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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) |
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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) |
Michael G. Branson
Edited by 
Cliff Auerswald
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 Statistics (2026 Update)
| State | Homeowners Age 62+ | Reverse Mortgages Closed Last 12 Months | Lenders in Iowa | Avg. Home Value |
|---|---|---|---|---|
| Iowa | 520,000 | 82 | 13 | $238,000 |
How this data was derived: Reverse mortgage counts reflect FHA-insured HECM loans endorsed over a rolling 12-month period (Dec 2024–Nov 2025) using HUD HECM Snapshot data. Active lenders represent unique FHA sponsor numbers with at least one endorsed loan during this period. Estimated homeowners age 62+ are based on U.S. Census ACS 5-year owner-occupied households age 65+ as a conservative proxy. Home values are sourced from Zillow’s Home Value Index (latest available).
Iowa Reverse Mortgage Lenders
| Lender | BBB Rating | Accredited | Years in Business | Customer Rating (0–5) | % Positive Reviews | Complaints | Source |
|---|---|---|---|---|---|---|---|
| American Pacific Mortgage | F | NO | 28 | 1.75/5 | 35.0% | 6 | Source |
| CrossCountry Mortgage, LLC. | F | YES | 22 | 1.43/5 | 29.0% | 303 | Source |
| Fairway Independent Mortgage | A+ | YES | 29 | 4.51/5 | 90.0% | 26 | Source |
| Finance of America Reverse LLC (FAR) | A+ | YES | 22 | 3.71/5 | 74.0% | 36 | Source |
| Goodlife Home Loans | A+ | YES | 13 | N/A (Not enough reviews) | N/A (Not enough reviews) | 1 | Source |
| Guaranteed Rate | A+ | YES | 26 | 2.25/5 | 450% | 45 | Source |
| Guild Mortgage Company LLC | A+ | NO | 65 | 1.55/5 | 31.0% | 73 | Source |
| HighTechLending Inc | A+ | YES | 19 | 4.94/5 | 99.0% | 1 | Source |
| Liberty Home Equity Solutions Inc. | A+ | NO | 22 | 1.00/5 | 20.0% | 1 | Source |
| Longbridge Financial LLC | A+ | YES | 13 | 3.77/5 | 75.0% | 34 | Source |
| Luminate Bank | NR | NO | 84 | NA | NA | NA | Source |
| MCM Holdings | A+ | YES | 27 | NA | NA | NA | Source |
| The Money House | NR | NO | 28 | NA | NA | 0 | Source |
| Movement Mortgage, LLC | A+ | NO | 18 | 4.43/5 | 89.0% | 92 | Source |
| Mutual of Omaha Mortgage | A+ | YES | 12 | 3.31/5 | 66.0% | 65 | Source |
| New American Funding | A+ | YES | 26 | 4.65/5 | 93.0% | 147 | Source |
| Plaza Home Mortgage Inc | A+ | YES | 24 | 2.67/5 | 53.0% | 6 | Source |
| Smartfi Home Loans | A+ | YES | 6 | N/A (Not enough reviews) | N/A (Not enough reviews) | 0 | Source |
| South River Mortgage, LLC | A+ | NO | 6 | 3.79/5 | 76.0% | 14 | Source |
HUD-Approved Reverse Mortgage Counseling Agencies in Iowa
| Name | Agency ID | Address | Phone | Web Site |
|---|---|---|---|---|
| CCCS OF ROCHESTER-NORTHEASTERN IOWA | 80644 | 1003 W 4th St, Waterloo, Iowa, 50702-2803 | (800) 714-4388 | N/A |
Iowa Reverse Mortgage Lending Limits (2026 Update)
Iowa, often called the Hawkeye State, is home to approximately 3.2 million residents and maintains one of the highest homeownership rates in the country. As of 2026, an estimated 520,000 Iowa homeowners are age 62 or older, making reverse mortgages a relevant retirement planning option for a large segment of the population.
With a long-standing culture of homeownership and modest housing costs, Iowa offers strong eligibility for federally insured reverse mortgage programs.
Iowa Housing Market and Reverse Mortgage Eligibility
The average home value in Iowa is $238,000, well below the FHA HECM lending limit. This means most Iowa homeowners can access the full benefits of a Home Equity Conversion Mortgage (HECM) without being constrained by the federal cap.
Iowa Economy and Homeownership Stability
Iowa’s economy is anchored by agriculture, insurance, manufacturing, and financial services. Des Moines serves as a national hub for insurance and financial firms, while cities like Cedar Rapids and Davenport support diversified regional economies. This stability has contributed to consistent homeownership and long-term equity growth across the state.
Reverse Mortgage Options for Iowa Homeowners
For eligible homeowners, a reverse mortgage can be used to:
- Eliminate an existing monthly mortgage payment
- Create supplemental retirement income
- Establish a standby line of credit
- Purchase a new primary residence using a HECM for Purchase
All FHA-insured reverse mortgages include consumer protections, mandatory third-party counseling, and a non-recourse guarantee, meaning neither borrowers nor heirs can ever owe more than the home’s value.
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
