Reverse Mortgage Alternatives

Alternatives to Reverse Mortgages

The reverse mortgage should not be considered a "first choice" for older adults looking for extra cash. There are alternatives. It does have its advantages, but in some cases, the reverse mortgage fees outway the benefits. Below are some reverse mortgage alternatives to consider before gettting this type of loan.

Reverse Mortgage Alternatives

  • Downsizing - Selling the home and moving into smaller quarters
  • The Home Equity Loan or Home Equity Line of Credit (HELOC)
  • Refinancing the home completely
  • Having the children buy the home, and lease back to you
  • Securing money for home repairs from other sources

To discuss these reverse mortgage alternatives with a licenced Reverse Mortgages Consultant (RMC), please Contact Us. The RMC can help you determine if the reverse mortgage alternative is a good financial choice for you.

Verified Reviews

(195)

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

Larry was Amazing Larry was amazing. He was prompt, efficient, responsive and knowledgeable. The whole process was a breeze. I would highly recommend him and his company to anyone in need of his services.We closed on time with no issues whatsoever.    

Paulette R — Jan 29, 2020

Helpful & Professional I appreciate how helpful and how professional my needs were met. The process was carried out in a timely manner, and when I needed to question anything, I was answered promptly. I am extremely pleased, thank you Larry, I would recommend you to anyone who is in need of this service. .

Stephanie J — Mar 7, 2023

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