Larry McAnarney, HECM Loan Specialist

Larry McAnarney
815-703-4745
CONTACT ME GET A QUOTE

Minnesota Reverse Mortgage Information

Minnesota Reverse Mortgage Information

Welcome to the Minnesota Reverse Mortgage Information Center

Welcome to Mutual of Omaha Reverse Mortgage, your premier destination for comprehensive information on reverse mortgages in the North Star State. If you're a homeowner aged 62 or older in Minneapolis/St Paul, Duluth, Rochester, or anywhere else, discover how you can leverage your home equity to achieve financial security and peace of mind in retirement.

Why Choose a Reverse Mortgage in Minnesota?

Minnesota offers a unique blend of natural beauty, vibrant communities, and a rich cultural heritage, making it a sought-after location for retirees. With a reverse mortgage, Minnesota homeowners can access their home equity without the burden of monthly mortgage payments, providing flexibility to enjoy retirement in the Land of 10,000 Lakes.

Larry McAnarney: Your Trusted Reverse Mortgage Expert

Larry McAnarney, HECM Loan Specialist

Larry McAnarney

HECM Loan Specialist

NMLS# 21059 | 815-703-4745

Contact Me Request a Quote

We're proud to have Larry McAnarney leading our team of reverse mortgage specialists. Since 1999 Larry has been a trusted authority in the field of reverse mortgages. As a Certified Senior Advisor (CSA), Larry is dedicated to providing expert guidance and support to Minnesota homeowners looking to unlock the potential of their home equity.

Your Partner in Financial Freedom

As a division of Mutual of Omaha Mortgage, we have the backing of one of the most trusted names in the financial services industry. Mutual of Omaha Reverse Mortgage is committed to upholding the highest standards of integrity, reliability, and customer satisfaction. Our team of reverse mortgage specialists is here to guide you through every step of the reverse mortgage process, ensuring that you have the information and support you need to make confident decisions about your financial future.

Your Path to Financial Freedom Starts Here

Whether you're looking to supplement your retirement income, cover medical expenses, or fund home renovations, a reverse mortgage could be the solution you've been searching for. Explore our comprehensive resources on reverse mortgages in Minnesota, including informative guides, articles, and tools designed to help you make informed decisions about your home equity.

Get Started Today

Ready to take the next step towards financial freedom? Contact Larry today at 815-703-4745 to schedule a consultation. Your path to financial security starts here.

Get a Quote
Below are just a few of the Minnesota cities and counties where you can obtain a reverse mortgage.

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.

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A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).

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You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…

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Use the proceeds for the things you need and want. For example: refinancing your existing mortgage(s) to improve cash flow; consolidating…

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The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…

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Reverse mortgages are available with either fixed or variable rates. Borrowers who elect a fixed-rate…

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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…

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You have a number of choices for how you receive your funds:

  • Lump sum
  • Monthly…
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A reverse mortgage offers certain advantages:

  • With a traditional home equity loan or home equity line of credit, you…
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With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…

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The specific amount depends on several factors, including:

  • Your…
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Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.

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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…

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The loan must be paid in full when one of the following occurs:

  •  A “maturity event” —…
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The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.

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

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Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…

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Verified Reviews

(219)

Worked well for us! My wife and I had been discussing reverse mortgage for some time. We had heard all the pros and cons of doing this type of mortgage and the pros won out. We have a house that was built in 1976 and we have been in it since 1991. We have really done no updates on it and it was really needing some remodeling. We were just not able to afford all the stuff that it needed. We could not find anyone in our area that did reverse mortgage so I got on the internet and did some searches. A few days later I got a call from Larry McAnarney. I told Larry that I came from the "old school" and was use to doing business face to face, but since he was in Illinois and we were in Texas it made it a little difficult. However, to make a long story short, Larry explained everything to our satisfaction and we started the process. We had to go to a counseling session so that we understood the process. After that it was pretty simple. Thanks to Larry McAnarney.

Joe G — Apr 14, 2015

HIGHLY Recommend Larry I had the pleasure of working with Larry McAnarney for a reverse mortgage for my mother. My mom wanted to stay in her home for her senior years and needed to do the reverse mortgage for the 24/7 in home care that was needed. I received Larry's name and contact information from a small-town bank near my mom's house. Knowing nothing about reverse mortgages, I knew I needed an expert and someone that would be patient, helpful, and willing to share all his knowledge. I found all of that, and more, in Larry. Every phone conversation, zoom call, and email from Larry was filled with valuable information that helped me, my mom, and my siblings through the entire reverse mortgage process. I felt like he was "holding my hand" as the process moved forward and that he always had my mom's best interests in mind. Larry is a very caring and compassionate person, and I could genuinely feel his desire to truly help our family. I never felt afraid, unsure, or concerned. Larry was always available to talk or text and he quickly replied to e-mails (even when I sent them in the middle of the night) The paperwork and forms he provided were very organized and detailed and I appreciated that Larry took the time to carefully explain all of the information. I have nothing but positive things to say about Larry. When the mortgage was approved and closed, I remember thinking "I'm going to miss Larry." Good people like Larry are hard to find.    

Doreen S — Mar 13, 2021

Larry is Very Professional Larry is very Professional, Knowledgeable and highly organized. He handled the entire process to our complete satisfaction. We would definitely recommend him to our family and friends.    

Mike & Marie H — Dec 23, 2019

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