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 356 48883508
FINANCIAL FREEDOM SENIOR FUNDING CORP 222 23161622
REVERSE MORTGAGE SOLUTIONS INC 209 28319330
ONE REVERSE MORTGAGE LLC 188 25565900
METLIFE BANK NATIONAL ASSOCIATION 145 19726150
LIBERTY HOME EQUITY SOLUTIONS INC 145 19823500
FINANCE OF AMERICA REVERSE LLC 113 13300600
SYNERGY ONE LENDING INC. 88 17256587
NATIONWIDE ADVANTAGE MORTGAGE COMPANY 83 5995210
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 30 4256000
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 315 43732008
REVERSE MORTGAGE SOLUTIONS INC 201 27420330
ONE REVERSE MORTGAGE LLC 151 20990500
LIBERTY HOME EQUITY SOLUTIONS INC 134 18761000
SYNERGY ONE LENDING INC. 88 17256587
REVERSE MORTGAGE USA INC 34 5210000
SECURITY ONE LENDING 32 4414000
PROFICIO MORTGAGE VENTURES LLC 23 3643375
LIVE WELL FINANCIAL INC 23 3600500
CHERRY CREEK MORTGAGE CO INC 22 4694004

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Most lenders do not publish interest rates, but each month the US Department of Housing and Urban Development (HUD) releases data on all originations in the country.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%
2017-05-01 NA 4.52%
2017-06-01 5.06% 4.55%
2017-07-01 5.04% 4.44%

Top Cities by Reverse Mortgage Origination

Rank City Zip Total
1 DES MOINES 50312 494
2 CEDAR RAPIDS 52404 176
3 DAVENPORT 52803 171
4 COUNCIL BLUFFS 51501 167
5 SIOUX CITY 51104 138
6 WATERLOO 50702 130
7 WEST DES MOINES 50265 98
8 MASON CITY 50401 79
9 CLINTON 52732 78
10 ANKENY 50021 75
11 BETTENDORF 52722 75
12 URBANDALE 50322 61
13 DUBUQUE 52001 60
14 CEDAR FALLS 50613 58
15 MARSHALLTOWN 50158 57
16 MUSCATINE 52761 51
17 OTTUMWA 52501 45
18 FORT DODGE 50501 42
19 NEWTON 50208 40
20 BOONE 50036 38
21 CLEAR LAKE 50428 38
22 IOWA CITY 52240 37
23 MARION 52302 37
24 INDIANOLA 50125 37
25 AMES 50010 36
26 BURLINGTON 52601 36
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