Larry McAnarney
815-703-4745

Can I use a reverse mortgage to purchase a home?

Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds to buy a home that better suits their needs and lifestyle. It’s a home financing option that can make it easier for buyers age 62 and older to afford the home they want, while preserving more of their savings.

Verified Reviews

(214)

Personal comfort and re-assurance My representative was Larry McAnarny, who was very concerned that I understood everything necessary to apply for a reverse mortgage. He was there for me the whole step of the way to advise me or help me make a decision. Larry gave me the good and bad specifics and I had to make all the decisions. Regardless of how unimportant I thought my questions were, or how often I contacted,Larry, he assured me that they were valid, and gave me his time to clarify and answer my questions. I am happy and feel very secure and comfortable with the counseling I received I HIGHLY recommend Larry with 10+ rating from me.

Janet H — Jul 26, 2016

Larry is the Best!! I was referred to Larry and could not be happier for the result. I had a unique circumstance, I was just out of bankruptcy and I had to save my house from foreclosure. I just got in under the time to qualify from the better limits under the old rules for a larger line of credit. Because my bankruptcy estate was not fully complete I had to get a court order from the bankruptcy judge to remove my house from my bankruptcy estate. With a time limit of 12/31/13 to close the financing, which I had to have to pay off the amount due to get out of foreclosure. Once I had the court order, Larry did a miracle in getting the paper work complete to close. I ended up closing the reverse mortgage on 12/31/13 at 12:30 pm, just 4.5 hours left in the year to close the deal! Larry saved my house and life. I can never express the amount of gratitude I have for his great service. THANK YOU LARRY!!!!!

Carl S — Jan 16, 2017

I would recommend Larry in a heartbeat Larry took me the whole way through this unchartered land of reverse mortgages with finesse! His professionalism when I asked seemingly ignorant questions was very respectful and considerate. In working with different lenders along this journey, I contacted Larry again after several months and he led me through the rest of the way! I would highly recommend Larry in a heartbeat! Thanks so much for all your help!

Dana F — Aug 17, 2022