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 632 94,836,037
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
METLIFE BANK NATIONAL ASSOCIATION 145 19,726,150
FINANCE OF AMERICA REVERSE LLC 132 16,333,600
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
MUTUAL OF OMAHA MORTGAGE INC. 69 21,142,032
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
PROFICIO MORTGAGE VENTURES LLC 27 4,039,375
IREVERSE HOME LOANS LLC 27 4,983,064

Since 2012

Lender Loans Total Principal Limit
AMERICAN ADVISORS GROUP 591 89,684,537
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. 69 21,142,032
LIVE WELL FINANCIAL INC 40 5,983,050
FINANCE OF AMERICA REVERSE LLC 40 5,858,000
REVERSE MORTGAGE USA INC 34 5,210,000
SECURITY ONE LENDING 32 4,414,000

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Most lenders do not publish interest rates, but each month the US Department of Housing and Urban Development (HUD) releases data on all originations in the country.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%
2022-04-01 3.18% 3.60%

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 50312 554
2 DAVENPORT 52803 194
3 CEDAR RAPIDS 52404 194
4 COUNCIL BLUFFS 51501 186
5 SIOUX CITY 51104 155
6 WATERLOO 50702 138
7 WEST DES MOINES 50265 114
8 ANKENY 50021 100
9 CLINTON 52732 92
10 BETTENDORF 52722 88
11 MASON CITY 50401 84
12 URBANDALE 50322 80
13 DUBUQUE 52001 68
14 MARSHALLTOWN 50158 65
15 CEDAR FALLS 50613 63
16 MUSCATINE 52761 58
17 OTTUMWA 52501 52
18 FORT DODGE 50501 48
19 NEWTON 50208 44
20 INDIANOLA 50125 44
21 MARION 52302 44
22 AMES 50010 43
23 BOONE 50036 41
24 IOWA CITY 52240 41
25 CLEAR LAKE 50428 40
26 BURLINGTON 52601 40
27 ALTOONA 50009 39
28 KNOXVILLE 50138 34
29 SHENANDOAH 51601 31
30 JOHNSTON 50131 28

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