Larry McAnarney
815-703-4745

What are the basic requirements for a reverse mortgage?

To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:

All borrowers must be age 62 or older (this applies to all co-owners listed on the home’s title).
The home must be your principal residence. And it must meet standards set by the United States Department of Housing and Urban Development (HUD) on property type and condition. You may be able to use your reverse mortgage to pay for any required repairs in order to meet these standards.
Eligible property types include single-family homes, 2- to 4-unit properties, manufactured homes meeting certain criteria, condominiums that are approved by the Federal Housing Administration (FHA), and townhouses. Co-ops do not qualify.

Verified Reviews

(219)

Quick to Respond to Any Inquiry Larry was on point from our very first conversation, I told him what we were looking to get done and he gave us options as well as explaining the process. He was quick to respond to any inquiry and most importantly was always transparent with both the pros and cons of the loan we wanted. A kind individual who listens to his customer and helps with whatever he can. Larry is an asset to organization and would not hesitate to use as well as recommend him in the future.

Carlos R — Apr 23, 2024

My Experience Has Been Wonderful My experience with my Reverse Mortgage representative Larry McAnarney has been wonderful. Larry has been very professional & sensitive to my needs. He was completely truthful & informative with me. I will recommend Larry anytime to anyone asking me about a Reverse Mortgage. Your company is lucky & very blessed to have Larry represent you.

Sam H — Nov 13, 2019

Reverse Mortgage It was a wonderful experience dealing with Larry McAnarmy. He is a true gentleman in every since of the word. He was thorough with everything and answered all our questions. He never pressured us and was very patient. The whole process was a lot more involved than I thought it would be but it all worked out fine.

Rex M. — Sep 9, 2014