Welcome to the Peoria, Arizona Reverse Mortgage Information Center
Larry McAnarney is your Peoria 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
Unlock Your Home Equity with a Reverse Mortgage in Arizona
Are you a homeowner in Arizona looking to access your home equity without monthly mortgage payments? Discover the financial freedom and peace of mind you deserve with a reverse mortgage from Mutual of Omaha Reverse Mortgage. Whether you are in Phoenix, Scottsdale, Prescott, Tucson, Flagstaff, or anywhere in the Grand Canyon State, I’m here to address your queries and furnish you with the details you need to make well-informed decisions
Why Choose a Reverse Mortgage in Arizona
Arizona homeowners aged 62 and older (55 in some states), you have a valuable financial tool at your disposal: the reverse mortgage. With a reverse mortgage, you can convert a portion of your home equity into tax-free cash without having to sell your home or take on monthly mortgage payments. Whether you're looking to supplement retirement income, cover unexpected expenses, purchase a retirement home, or simply enhance your quality of life, a reverse mortgage can provide the flexibility and stability you need.
Larry McAnarney
HECM Loan Specialist
NMLS# 21059 | 815-703-4745
My Commitment to You
I understand the importance of making informed financial decisions. That's why my team of experienced professionals are dedicated to guiding you through every step of the reverse mortgage process. From initial consultation to loan closing, I am here to answer your questions, address your concerns, and ensure that you feel confident and empowered in your decision.
Why Larry McAnarney?
- Expertise: Since 1999, I have been helping clients navigate the reverse mortgage process through knowledge, expertise, and experience.
- Personalized Service: I take the time to understand your unique financial situation and goals, tailoring our services to meet your specific needs.
- Transparency: I believe in transparency and honesty. You can trust me to provide clear, straightforward information about reverse mortgages, including costs, benefits, and potential risks.
Ready to Get Started?
Unlock the potential of your home equity with a reverse mortgage from Mutual of Omaha Reverse Mortgage. Contact me today at 815-703-4745 to schedule a free no-obligation consultation.
Your financial future starts here. Get a Quote.
Verified Reviews
(212)
Very Comfortable with my Decision I was a little nervous when I decided I wanted to look into a reverse mortgage. Had no idea where to begin, so went to a bank and they gave me Larry McAnarney's name. Thank goodness they did! Larry was absolutely wonderful. He was polite, answered all my questions and walked me through the process and was very patient with my questions. I then spoke with a reverse mortgage counselor who was also wonderful. She knew her business, took her time with me, answered all my questions and advised me. I was no longer nervous. I also had a notary who came and closed the reverse mortgage loan and he was very nice, took his time and walked me through the closing. All three people were very knowledgeable about reverse mortgages, both pros and cons, and I felt very comfortable with my final decision to go through the process. The entire process was not uncomfortable for me because all three had taken the time I needed for me to feel comfortable with my decision. I was very happy with the outcome and for the patience of all three individuals. Yes, I would recommend Larry McAnarney to anyone interested in a reverse mortgage.
Diane F — Jul 22, 2014
Rated 5/5 | 212 Reviews
Many Thanks! We were hesitant about a reverse mortgage but our financial planner referred Larry McAnarney to us. So glad he did! Larry is very personable and professional. He explained everything to us and made sure we completely understood it all. Anyone would surely benefit by having Larry to consult with on a reverse mortgage. Larry, many thanks for all your help and peace of mind! Many Thanks!
Lee & Jeanette P — Aug 17, 2017
Rated 5/5 | 212 Reviews
Larry is the best hand holder Larry is the best hand holder anyone could ask for, very detailed orientated and worked well with all the other parties behind the scene in our best interest.Larry would always get us back on track when we started to stray during the process and was there at the end to help with the closing.
Phil R — Jan 28, 2020
Rated 5/5 | 212 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 Peoria 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
