Larry McAnarney
815-703-4745
Virginia Reverse Mortgage Information
Discover a Trusted Virginia Reverse Mortgage Lender
Welcome to Mutual of Omaha Reverse Mortgage, your reliable source for reverse mortgage information in Virginia. Whether you're in Roanoke, Norfolk, Richmond, Portsmouth, Newport, or anywhere across the Commonwealth of Virginia, I can answer all your questions and provide you with the details you are looking for. If you're a homeowner aged 62 or older (55 in some states), discover how you can leverage your home equity to enhance your retirement and achieve your financial retirement goals.
Why Choose a Reverse Mortgage in Virginia?
Virginia offers a rich blend of history, culture, and natural beauty, making it a desirable place to retire. With a reverse mortgage, Virginia homeowners can unlock the equity in their homes without the burden of monthly mortgage payments, providing financial flexibility and peace of mind in retirement.
Empowering Virginia Homeowners
My team and I are dedicated to empowering Virginia homeowners to make informed financial decisions. I can provide personalized guidance and support tailored to your unique needs and goals. I believe in transparency, integrity, and excellence in customer service, ensuring that you have the resources and information you need to make the right choices for your financial future.
Unlock Your Home's Potential Today
Don't let your home equity go untapped—discover the possibilities of a reverse mortgage in Virginia today. Whether you're looking to supplement your retirement income, cover medical expenses, purchase a home, or fund home renovations, a reverse mortgage could be the key to unlocking the equity in your home and securing your financial future.
Ready to Take the Next Step?
Contact me today at 815-703-4745 to schedule a no obligation consultation and learn more about how a reverse mortgage can help you achieve your financial goals in retirement. Your financial future starts here.
Contact me today to get started!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.
A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).
You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…
Use the proceeds for the things you need and want. For example: refinancing your existing mortgage(s) to improve cash flow; consolidating…
The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…
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…
A reverse mortgage offers certain advantages:
- With a traditional home equity loan or home equity line of credit, you…
With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…
The specific amount depends on several factors, including:
- Your…
Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.
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…
The loan must be paid in full when one of the following occurs:
- A “maturity event” —…
The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.
To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:
Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…