IA Reverse Mortgage Requirements

We’ve gathered this collection of important resources for seniors living in the state of Iowa. This page includes:

  • Updated data on reverse mortgage originations and interest rates
  • HUD Approved Counseling Agencies
  • Local HUD offices

We hope that you find this information useful.

Interested in learning more about a reverse mortgage? Click here for more information, absolutely free.

The Top Reverse Mortgage Lenders in Iowa

We’ve compiled a list of the largest HECM orginators in Iowa, including an updated list to the highlight the leaders since 2012. Please note that these are not recommendations, and we encourage you to thoroughly research whichever companies you decide to consider.

All Time

Lender Loans Total Principal Limit
WELLS FARGO 1709 211093218
AMERICAN ADVISORS GROUP 335 46093208
FINANCIAL FREEDOM SENIOR FUNDING CORP 222 23161622
REVERSE MORTGAGE SOLUTIONS INC 208 28255330
ONE REVERSE MORTGAGE LLC 185 25289400
METLIFE BANK NATIONAL ASSOCIATION 145 19726150
LIBERTY HOME EQUITY SOLUTIONS INC 139 18841500
FINANCE OF AMERICA REVERSE LLC 110 12889600
NATIONWIDE ADVANTAGE MORTGAGE COMPANY 83 5995210
SYNERGY ONE LENDING INC. 77 15454587
GENERATION MORTGAGE COMPANY 74 9442500
SECURITY ONE LENDING 73 10349900
REVERSE MORTGAGE USA INC 73 10189700
CHERRY CREEK MORTGAGE CO INC 49 8935946
BANK OF AMERICA 43 7589108
CHALLENGE FINANCIAL INVESTORS CORP 37 4073420
LIVE WELL FINANCIAL INC 28 3831000
IREVERSE HOME LOANS LLC 27 4983064
PROFICIO MORTGAGE VENTURES LLC 27 4039375
FIRST STEP MORTGAGE GROUP INC 20 2540200

Since 2012

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 294 40941708
REVERSE MORTGAGE SOLUTIONS INC 200 27356330
ONE REVERSE MORTGAGE LLC 148 20714000
LIBERTY HOME EQUITY SOLUTIONS INC 128 17779000
SYNERGY ONE LENDING INC. 77 15454587
REVERSE MORTGAGE USA INC 34 5210000
SECURITY ONE LENDING 32 4414000
PROFICIO MORTGAGE VENTURES LLC 23 3643375
CHERRY CREEK MORTGAGE CO INC 22 4694004
LIVE WELL FINANCIAL INC 21 3175500

Interested in learning more about a reverse mortgage? Click here for more information, absolutely free.

Iowa Reverse Mortgage Rates

Most lenders do not publish interest rates, but each month the US Department of Housing and Urban Development (HUD) releases data on all originations in the country. Using this information, we’ve put together this list of average fixed and adjustable interest rates on HECM loans originated in IA. Although we cannot guarantee these are the rates available to you – they’re just averages, after all – this should provide a benchmark as you do your comparison shopping.

Date Fixed Rate Adjustable Rate
2016-01-01 5.06% 3.61%
2016-02-01 4.45% 3.85%
2016-03-01 5.06% 3.85%
2016-04-01 5.06% 3.89%
2016-05-01 5.06% 4.13%
2016-06-01 4.75% 4.09%
2016-07-01 4.87% 4.18%
2016-08-01 5.01% 4.31%
2016-09-01 5.06% 4.50%
2016-10-01 5.06% 4.75%
2016-11-01 NA 4.67%
2016-12-01 5.05% 4.87%
2017-01-01 4.78% 4.76%
2017-02-01 5.06% 4.82%
2017-03-01 5.02% 4.61%
2017-04-01 4.75% 4.64%

Top Cities by Reverse Mortgage Origination

Rank City Zip Total
1 DES MOINES 50312 489
2 CEDAR RAPIDS 52404 174
3 DAVENPORT 52803 167
4 COUNCIL BLUFFS 51501 165
5 SIOUX CITY 51104 138
6 WATERLOO 50702 128
7 WEST DES MOINES 50265 94
8 MASON CITY 50401 79
9 CLINTON 52732 75
10 ANKENY 50021 75
11 BETTENDORF 52722 73
12 URBANDALE 50322 61
13 DUBUQUE 52001 59
14 MARSHALLTOWN 50158 57
15 CEDAR FALLS 50613 56
16 MUSCATINE 52761 51
17 OTTUMWA 52501 44
18 NEWTON 50208 40
19 CLEAR LAKE 50428 38
20 FORT DODGE 50501 38
21 IOWA CITY 52240 37
22 MARION 52302 37
23 BOONE 50036 37
24 INDIANOLA 50125 36
25 AMES 50010 34
26 BURLINGTON 52601 32
27 ALTOONA 50009 31
28 SHENANDOAH 51601 30
29 KNOXVILLE 50138 27
30 PERRY 50220 24

HECM Counseling Agencies in IA

CCCS OF NORTHEASTERN IOWA
1003 W 4TH ST, WATERLOO, IA 50702-2803
(319) 234-0661
http://www.cccsia.org

FAMILY MANAGEMENT FINANCIAL SOLUTIONS, INC.
359 ROCK ISLAND AVE, WATERLOO IA 50701-5301
(319) 234-6695
http://www.family-finance.org

Local HUD Offices

Des Moines Field Office

210 Walnut Street Room 937
Des Moines, IA 50309-2155

Office Hours: 8am to 4:30pm, Monday thru Friday

Phone: (515) 284-4512
Fax: (515) 284-4743