Welcome to the Cleveland, Ohio Reverse Mortgage Information Center
Larry McAnarney is your Cleveland licensed Reverse Mortgage Specialist
Please contact Larry for additional details and program offerings. Contact us if you would like to know how much money is available to you or request a reverse mortgage quote and fill out the appropriate information.
Larry McAnarney
HECM Loan Specialist
NMLS# 21059 | 815-703-4745
Discover a Trusted Ohio Reverse Mortgage Lender
Welcome to the Mutual of Omaha Reverse Mortgage in Ohio. If you're a homeowner aged 62 or older in the Buckeye State, including Columbus, Clevland, Cincinnati, Findlay, Canton, or anywhere else in Ohio, discover how you can leverage your home equity and achieve financial security and peace of mind in retirement.
Meet Larry McAnarney: Your Trusted Reverse Mortgage Expert
Larry McAnarney
HECM Loan Specialist
NMLS# 21059 | 815-703-4745
Larry has been a seasoned reverse mortgage professional since 1998. As a Certified Senior Advisor (CSA) and member of the National Reverse Mortgage Lenders Association (NRMLA), Larry brings unparalleled expertise and dedication to every client he serves in Ohio.
Why Choose Larry McAnarney?
Larry's extensive knowledge and understanding of reverse mortgages make him a trusted advisor for Ohio homeowners seeking financial flexibility in retirement. Whether you're looking to supplement your retirement income, cover healthcare expenses, or pursue your dream retirement lifestyle, Larry is committed to providing personalized guidance tailored to your unique needs and goals.
Your Path to Financial Freedom Starts Here
Benefit from Larry's wealth of knowledge and expertise as you navigate the reverse mortgage process and secure your financial future. Contact Larry McAnarney at 815-703-4745 to schedule a consultation. Take the first step towards financial security and peace of mind in retirement with expert guidance and support from Larry.
Experience Larry McAnarney's Expertise
Trust Larry to guide you through the reverse mortgage process with integrity, professionalism, and a commitment to excellence. Discover the benefits of a reverse mortgage tailored to your needs in Ohio today.
Get a Quote Today
Verified Reviews
(211)
We were really unsure about doing a reverse mortgage We were really unsure about doing this type of loan, but Larry helped us through it and even though it seemed to take a long time, because of all the paperwork and the need for looking up files for them. But Larry kept us informed all along the way and assured us we were doing things correctly! Thanks, Larry, for all your help!
Erwin & Sharon H — Jul 14, 2022
Rated 5/5 | 211 Reviews
Made Me Feel Comfortable Larry was very patient,explained everything..answered all questions..he made me feel very comfortable about doing a reverse mortgage... thank you Larry for all your help.
Darlene W — Nov 14, 2014
Rated 5/5 | 211 Reviews
Easy to Communicate with and Prompt in Responding Larry was very helpful in explaining the reverse mortgage process and what to expect. He was easy to communicate with and prompt in responding to questions.
Lynne P — Jul 2, 2024
Rated 5/5 | 211 Reviews
Read More Reviews
Reverse Mortgage Frequently Asked Questions
Yes, refinancing is possible. This option may be to your advantage if your home increases in value, making more funds available.
Read More
A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).
Read More
You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…
Read More
Use the proceeds for the things you need and want. For example: refinancing your existing mortgage(s) to improve cash flow; consolidating…
Read More
The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…
Read More
Reverse mortgages are available with either fixed or variable rates. Borrowers who elect a fixed-rate…
Read More
A reverse mortgage is a home-secured loan that’s exclusively for homeowners and homebuyers age 62 and older. It allows borrowers to convert some of…
Read More
You have a number of choices for how you receive your funds:
Read More
A reverse mortgage offers certain advantages:
- With a traditional home equity loan or home equity line of credit, you…
Read More
With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…
Read More
The specific amount depends on several factors, including:
Read More
Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.
Read More
Yes. For many homeowners age 62 and older who are looking to refinance their mortgage(s) or consolidate debt to reduce their monthly bills, a reverse…
Read More
The loan must be paid in full when one of the following occurs:
Read More
The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.
Read More
To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:
Read More
Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…
Read More
Below are just a few of the Cleveland cities and counties where you can obtain a reverse mortgage.
What is a reverse mortgage?
A Home Equity Conversion Mortgage, or HECM, is a flexible financial product designed for homeowners aged 62 and older. The loan is insured by the Federal Housing Administration (FHA) so that borrowers will not owe more than the value of the home at maturity. With a HECM, also known as a reverse mortgage, you can convert some of the equity in your home into cash to meet financial goals, such as supplementing retirement income, buying a new home, maintaining a quality lifestyle, or preparing for a more secure and rewarding financial future.
All that happens all without giving up ownership or control of your home and without having to make monthly mortgage payments. Of course, as homeowners, you are responsible for occupying the home as your primary residence, keeping up with property maintenance, and staying current on paying property taxes, required insurance and any homeowners’ fees.
Instead of repaying the loan in monthly installments, you or your estate repay the principal, accrued fees and interest when you no longer live in the home.
When it comes to getting your payment, you determine how you’d like to receive your funds based on your individual financial needs and objectives. For example:
- A monthly payment will supplement your income each month.
- A lump sum will provide your available funds at once, subject to initial disbursement limits.
- A line of credit will allow you to withdraw cash as you need it.
- Any combination of the above will give you the added value of flexibility to meet your personal financial requirements.
Reverse Mortgage Frequently Asked Questions
Yes, refinancing is possible. This option may be to your advantage if your home increases in value, making more funds available.
Read More
A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).
Read More
You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…
Read More
Use the proceeds for the things you need and want. For example: refinancing your existing mortgage(s) to improve cash flow; consolidating…
Read More
The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…
Read More
Reverse mortgages are available with either fixed or variable rates. Borrowers who elect a fixed-rate…
Read More
A reverse mortgage is a home-secured loan that’s exclusively for homeowners and homebuyers age 62 and older. It allows borrowers to convert some of…
Read More
You have a number of choices for how you receive your funds:
Read More
A reverse mortgage offers certain advantages:
- With a traditional home equity loan or home equity line of credit, you…
Read More
With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…
Read More
The specific amount depends on several factors, including:
Read More
Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.
Read More
Yes. For many homeowners age 62 and older who are looking to refinance their mortgage(s) or consolidate debt to reduce their monthly bills, a reverse…
Read More
The loan must be paid in full when one of the following occurs:
Read More
The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.
Read More
To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:
Read More
Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…
Read More
