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 1,709 211,093,218
AMERICAN ADVISORS GROUP 665 102,178,037
FINANCIAL FREEDOM SENIOR FUNDING CORP 222 23,161,622
ONE REVERSE MORTGAGE LLC 221 31,562,900
REVERSE MORTGAGE SOLUTIONS INC 209 28,319,330
SYNERGY ONE LENDING INC. 168 36,791,584
LIBERTY HOME EQUITY SOLUTIONS INC 166 23,160,500
FINANCE OF AMERICA REVERSE LLC 160 23,553,100
METLIFE BANK NATIONAL ASSOCIATION 145 19,726,150
MUTUAL OF OMAHA MORTGAGE INC. 111 34,924,099
NATIONWIDE ADVANTAGE MORTGAGE COMPANY 83 5,995,210
GENERATION MORTGAGE COMPANY 74 9,442,500
SECURITY ONE LENDING 73 10,349,900
REVERSE MORTGAGE USA INC 73 10,189,700
CHERRY CREEK MORTGAGE CO INC 51 9,204,446
LIVE WELL FINANCIAL INC 47 6,638,550
BANK OF AMERICA 43 7,589,108
CHALLENGE FINANCIAL INVESTORS CORP 37 4,073,420
LONGBRIDGE FINANCIAL LLC 35 7,695,775
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 6,332,043

Since 2012

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 624 97,026,537
REVERSE MORTGAGE SOLUTIONS INC 201 27,420,330
ONE REVERSE MORTGAGE LLC 184 26,987,500
SYNERGY ONE LENDING INC. 168 36,791,584
LIBERTY HOME EQUITY SOLUTIONS INC 155 22,098,000
MUTUAL OF OMAHA MORTGAGE INC. 111 34,924,099
FINANCE OF AMERICA REVERSE LLC 68 13,077,500
LIVE WELL FINANCIAL INC 40 5,983,050
LONGBRIDGE FINANCIAL LLC 35 7,695,775
REVERSE MORTGAGE USA INC 34 5,210,000

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Most lenders do not publish interest rates, but each month the US Department of Housing and Urban Development (HUD) releases data on all originations in the country.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.

Current Rates

Date Fixed Rate Adjustable Rate
2019-01-01 NA 4.49%
2019-02-01 NA 5.27%
2019-03-01 NA 5.04%
2019-04-01 NA 5.03%
2019-05-01 NA 4.87%
2019-06-01 NA 4.90%
2019-07-01 NA 4.57%
2019-08-01 NA 4.34%
2019-09-01 NA 4.74%
2019-10-01 NA 4.85%
2019-11-01 NA 4.82%
2019-12-01 NA 4.54%
2020-01-01 NA 4.31%
2020-02-01 NA 4.00%
2020-03-01 NA 4.71%
2020-04-01 NA 3.88%
2020-05-01 NA 3.80%
2020-06-01 NA 3.77%
2020-07-01 NA 3.30%
2020-08-01 NA 3.46%
2020-09-01 3.68% 3.24%
2020-10-01 NA 3.13%
2020-11-01 NA 2.84%
2020-12-01 3.52% 2.90%
2021-01-01 NA 3.10%
2021-02-01 3.81% 3.21%
2021-03-01 NA 2.74%
2021-04-01 3.56% 2.65%
2021-05-01 3.56% 2.71%
2021-06-01 4.31% 2.53%
2021-07-01 NA 2.19%
2021-08-01 NA 2.33%
2021-09-01 3.43% 2.30%
2021-10-01 3.75% 2.39%
2021-11-01 NA 2.42%
2021-12-01 NA 2.50%
2022-01-01 NA 2.71%
2022-02-01 NA 2.78%
2022-03-01 NA 3.39%
2022-05-01 NA 4.69%
2022-04-01 3.18% 3.60%
2022-06-01 NA 4.47%
2022-07-01 NA 4.20%
2022-08-01 4.31% 5.28%
2022-09-01 5.68% 6.23%
2022-10-01 NA 5.75%
2022-11-01 NA 6.33%
2022-12-01 7.18% 7.36%
2023-01-01 NA 7.55%
2023-02-01 NA 7.58%
2023-03-01 5.81% 7.25%
2023-04-01 NA 6.14%
2023-05-01 NA 6.97%
2023-06-01 NA 7.41%
2023-07-01 NA 7.51%
2023-08-01 NA 7.84%
2023-09-01 NA 7.76%
2023-10-01 NA 8.01%
2023-11-01 NA 7.78%
2023-12-01 NA 7.77%

Historic Rates

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%
2017-05-01 NA 4.52%
2017-06-01 5.06% 4.55%
2017-07-01 5.04% 4.44%
2017-08-01 5.06% 4.49%
2017-09-01 5.06% 4.50%
2017-10-01 5.06% 4.46%
2017-11-01 5.06% 4.66%
2017-12-01 5.06% 4.74%
2018-01-01 5.06% 4.70%
2018-02-01 5.06% 4.70%
2018-03-01 4.75% 4.57%
2018-04-01 5.06% 4.70%
2018-05-01 NA 4.76%
2018-06-01 NA 4.92%
2018-07-01 5.18% 5.00%
2018-08-01 NA 4.82%
2018-09-01 NA 4.95%
2018-10-01 NA 5.08%
2018-11-01 NA 5.45%
2018-12-01 4.80% 4.84%

Top Cities by Reverse Mortgage Origination

Rank City Zip Total
1 DES MOINES 50315 115
2 DES MOINES 50310 114
3 DES MOINES 50317 112
4 COUNCIL BLUFFS 51501 95
5 COUNCIL BLUFFS 51503 94
6 CLINTON 52732 91
7 BETTENDORF 52722 89
8 MASON CITY 50401 87
9 WEST DES MOINES 50265 81
10 URBANDALE 50322 70
11 MARSHALLTOWN 50158 68
12 CEDAR FALLS 50613 66
13 WATERLOO 50701 66
14 MUSCATINE 52761 60
15 DAVENPORT 52804 59
16 ANKENY 50021 57
17 CEDAR RAPIDS 52402 56
18 SIOUX CITY 51106 55
19 CEDAR RAPIDS 52404 54
20 DAVENPORT 52806 54
21 OTTUMWA 52501 53
22 ANKENY 50023 52
23 FORT DODGE 50501 48
24 DAVENPORT 52803 47
25 NEWTON 50208 46
26 MARION 52302 45
27 CEDAR RAPIDS 52405 44
28 INDIANOLA 50125 44
29 WATERLOO 50702 43
30 BOONE 50036 43

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