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Michael G. Branson Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040)
Cliff Auerswald All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLO™. (License: NMLS# 14041)

Reverse Mortgages in Iowa: A Comprehensive Guide

If you’re an Iowa homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in Iowa, including key facts, the latest statistics, top lenders, and essential protections.

 

Iowa Reverse Mortgage Lenders

LenderBBB RatingYears in BusinessStar Rating (0–5)Good Review %ComplaintsSource
Atlantic Avenue Mortgage LLCB+24.94/598.8%2Source
American Pacific MortgageF281.75/535.0%8Source
Cross Country MortgageF211.47/529.4%294Source
Fairway Independent MortgageA+294.48/589.6%29Source
Finance of America Reverse LLC (FAR)A+211.00/520.0%36Source
GMFS MortgageA+262.5/550.0%17Source
Goodlife Home LoansA+125.0/5100%0Source
Guild Mortgage Company (Formerly Cherry Creek LLC)A+641.36/527.2%28Source
HighTechLending IncA+194.93/598.6%1Source
Liberty Home Equity Solutions Inc.A+211.00/520.0%2Source
Longbridge Financial LLCA+123.77/575.4%24Source
Mid America Mortgage Inc.A+66NANANASource
MoneyhouseNR27NANA0Source
Movement Mortgage, LLCA+174.81/596.2%98Source
Mutual of Omaha MortgageA+121.49/529.8%49Source
Open Mortgage LLCA+223.0/560.0%1Source
Plaza Home Mortgage IncA+243.2/564.0%7Source
Smartfi Home LoansA+6NANA0Source
South River Mortgage, LLCA+63.55/571.0%12Source
Notes:
BBB Rating: Better Business Bureau rating (A+ to F; NR = Not Rated).
Star Rating: Average customer rating out of 5 stars.
Good Review %: Percentage of reviews classified as positive.
Source: Data compiled from national rankings of top 20 HECM (Home Equity Conversion Mortgage) lenders by RMInsight (https://www.rminsight.net/wp-content/uploads/2025/05/Lenders_202504.pdf). BBB Reviews updated as of May 28, 2025.

Latest Iowa Reverse Mortgage Statistics

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsLenders in IowaAvg. Home Value
Iowa448,8008512$215,153
HECM Data source: https://entp.hud.gov/sfnw/public/
Loan Type: HECM Standard Loans Originated in Iowa
Performance Period: Loans endorsed between January 1, 2024, and December 31, 2024
Note: Includes all HECM Standard cases within the specified endorsement period.

Iowa lending limits

Iowa Reverse Mortgage Lending Limits

Iowa, known as the “Hawkeye State,” is the 30th most populous state in the U.S. and the 26th largest in land size. As of 2024, Iowa is home to approximately 3.2 million people, with over half of its residents living in urban areas. Around 530,000 Iowans are aged 65 and older, and about 70% of the population are homeowners, reflecting the state’s strong tradition of homeownership.

A Rich Agricultural History

Named after the Iowa Native American tribe, Iowa’s rich history dates back to its early European exploration. The French first explored the area, with the land later switching between French and Spanish control before being acquired by the U.S. as part of the Louisiana Purchase. Iowa became the 29th state in 1846 and quickly developed into a leading agricultural state, known today as the top producer of corn in the U.S. Agriculture remains a key part of Iowa’s economy, manufacturing, and services.

Key Cities: Des Moines, Cedar Rapids, and Davenport

Des Moines, the state capital and largest city, is home to about 218,000 residents as of 2024. The city is a major hub for insurance companies and financial services and is well-known for hosting the first presidential caucuses in the nation. Following Des Moines, Cedar Rapids and Davenport are the next largest cities in Iowa. The state ranks 12th on Forbes’ list of ‘Best Places to Do Business,’ with major companies such as Principal Financial Group, Casey’s General Stores, and Rockwell Collins headquartered here.

Climate and Lifestyle in Iowa

In the Midwest, Iowa experiences all four seasons with a humid continental climate. Winters are cold, with an average low in January around 15°F, while summers are hot and humid, with July highs averaging 86°F. Spring often brings severe weather, including thunderstorms and tornadoes, with the state averaging around 50 tornadoes annually.

Reverse Mortgage Opportunities in Iowa

As of January 2025, the average home value in Iowa is around $215,153, an increase from the previous year. Given this average, many homes in Iowa fall well below the federal reverse mortgage lending limit of $1,209,750, which applies to HECM (Home Equity Conversion Mortgage) loans. For homeowners whose properties exceed this limit, jumbo reverse mortgage programs are available to provide additional borrowing power.

 

HUD-Approved Reverse Mortgage Counseling Agencies in Iowa

NameAgency IDAddressPhoneWeb Site
CCCS OF ROCHESTER-NORTHEASTERN IOWA806441003 W 4TH ST
WATERLOO, IA 50702-2803
(800) 714-4388N/A
The information presented in this table was obtained from the U.S. Department of Housing and Urban Development (HUD) at https://answers.hud.gov/housingcounseling as of February 23rd, 2025.

Did you know? Iowa State does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies, and you can conduct your required counseling from the comfort of your home.

Additional Resources:
Reversemortgage.org NRMLA Members in Iowa: https://www.reversemortgage.org/Find-a-Lender/state/IA
HUD.GOV Approved Lenders Search: https://www.hud.gov/program_offices/housing/sfh/lender/lenderlist

Author Michael Branson
About the Author, Michael G. Branson | Mike@allreverse.com
Michael G. Branson CEO, All Reverse Mortgage, Inc. and moderator of ARLO™ has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively.
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