Lawrence and Douglas County homeowners 62 and older can use a reverse mortgage to access home equity with no required monthly mortgage payment. Steve Clune is licensed across Kansas and is a short drive away in Kansas City.
Reverse mortgages for Lawrence homeowners
Lawrence has many retired university faculty and staff who have owned their homes for years. A reverse mortgage can fund travel, help family, cover care costs, or simply remove a remaining mortgage payment.
If a large, older home near campus no longer fits, a HECM for Purchase can help you buy something smaller with no monthly mortgage payment afterward.
Areas covered
Lawrence and Douglas County, including Eudora, Baldwin City and Lecompton, plus nearby Tonganoxie and De Soto.
How it works if you live in Lawrence
- Start with a call or text to see if a reverse mortgage fits
- Complete HUD-approved counseling, usually by phone
- Appraisal by a local appraiser who knows Lawrence home values
- Meet in person in Lawrence by appointment, or work by phone and email
- Sign closing papers at home or a nearby title office
Questions from Lawrence homeowners
Can I rent out part of my home after a reverse mortgage?
You can rent a unit in a 2 to 4 unit home or a room, as long as you continue to live in the home as your primary residence.
What happens if I move into assisted living?
If you are out of the home for more than 12 consecutive months for health reasons, the loan generally comes due. Plan ahead with family.
Can I pay the loan down if I want to?
Yes. Voluntary payments are allowed without penalty and reduce the balance.
Talk to a real person in Kansas City
Steve Clune is a licensed loan officer for Kansas and Missouri. Call or text with your questions. If you miss him, send a text and he’ll get back to you.