New Jersey Reverse Mortgage Information

New Jersey Reverse Mortgage Information

New Jersey Reverse Mortgage Information Center

At Mutual of Omaha Reverse Mortgage, we're dedicated to providing expert guidance and support to homeowners aged 62 and older throughout the Garden State. Industry veteran Larry McAnarney brings decades of experience and a commitment to excellence to every client we serve. If you are a homeowner in Atlantic City, Newark, Toms River, Trenton, or anywhere else, Larry will address your questions and provide the information you need to make a sound decision.

Larry McAnarney: Your Trusted Reverse Mortgage Expert

Larry McAnarney, HECM Loan Specialist

Larry McAnarney

HECM Loan Specialist

NMLS# 21059 | 815-703-4745

Larry McAnarney is a leading authority in the reverse mortgage industry with a deep understanding of the unique needs and challenges facing New Jersey homeowners. Since 1999, Larry has helped countless individuals and families unlock the potential of their home equity to achieve financial security and peace of mind in retirement. I believe in transparency, honesty, and open communication, ensuring that you have all the information you need to make confident decisions about your home equity.

As a Certified Senior Advisor (CSA), Larry is dedicated to upholding the highest standards of professionalism, integrity, and customer service. He is passionate about educating homeowners about the benefits of reverse mortgages and empowering them to make informed decisions about their financial future.

Why Choose Mutual of Omaha Reverse Mortgage?

Mutual of Omaha Reverse Mortgage is a trusted name in the reverse mortgage industry, known for its commitment to integrity, reliability, and customer satisfaction. As a division of Mutual of Omaha Mortgage, we have the resources and expertise to provide personalized solutions tailored to your unique needs and goals.

How We Can Help You

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. Larry is committed to helping you explore your options and find the right financial solution for your needs.

Get Started Today

Ready to learn more about how a reverse mortgage can help you achieve your financial goals in retirement? Contact Larry today at 815-703-4745 to schedule a consultation. Your path to financial security starts here.

Get a Quote

Verified Reviews

(233)

Patience & Professionalism Larry helped us through every step of the process with patience and professionalism. He answered all our questions. In addition, Larry is very kind and understanding. We are so happy that he was recommended to us by our nephew and financial advisor.      

Tom & Jean C — Sep 26, 2018

Elderly Family Member We worked with Larry McAnarney to secure a reverse mortgage for an elderly family member. From beginning to end of this rather complicated process, Larry was extremely efficient, helpful, and knowledgeable. He shared with us all of the elements of this type of mortgage arrangement, explained clearly how it would work, and advised us of possible misunderstandings. When we had questions (as we did on multiple occasions), he answered them promptly and efficiently, both by email and telephone. He also followed up quickly to clarify some final issues and questions that arose as the closing approached and even after it had been completed. His manner was always professional and well informed. I would strongly recommend working with Larry in any matter related to mortgage financing or refinancing, especially so in regard to making a wise decision about a reverse mortgage.

Daniel P. — Mar 16, 2015

Thank You, Larry! Larry McAnarney is our reverse mortgage loan specialist. He did an excellent job of explaining the reverse mortgage programs, the process, requirements, how the monies would be accessed if approved. He followed up with me multiple times before I made the decision to proceed which I really appreciated. He assisted me in wading through all of the requirements in the application process. He was always available for a question either by email or phone. He was always encouraging and optimistic about our chances for success. He was helpful and very clear as to all the documents I needed to prepare and always allowed me a reasonable amount of time to comply. As our house is in trust there were further "hoops to jump through." Larry truly went above and beyond the call of duty on our behalf with the underwriters. I have no doubt that his extra hard work won the approval of our reverse mortgage. I couldn't recommend him more highly. He has my thanks!

Jacquelyn W — May 6, 2015

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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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Below are just a few of the New Jersey cities and counties where you can obtain a reverse mortgage.