Compare Iowa's Best Reverse Mortgages
Iowa Reverse Mortgage Lenders
|Lender Name||Years in Business||Rating||Stars (0-5.0)||Positive Reviews||Complaints||BBB Reviews|
|All Reverse Mortgage, Inc. (ARLO)||15||A+||4.9||99%||1||Source|
|American Advisors Group (AAG)||14||A-||4.1||82%||53||Source|
|Longbridge Financial, LLC||6||A+||3.5||70%||2||Source|
|Reverse Mortgage Funding LLC||6||A+||3.0||60%||8||Source|
|One Reverse Mortgage, LLC (Quicken)
|Liberty Home Equity Solutions, Inc.||15||A+||2.1||42%||2||Source|
|Retirement Funding Solutions (RFS)||9||A+||(N/A)||(N/A)||1||Source|
|Fairway Independent Mortgage||23||A+||2.1||42%||21||Source|
|HighTech Lending Inc.||13||A-||2.0||40%||2||Source|
|Finance of America Reverse LLC||15||A+||1.0||20%||2||Source|
All Reverse Mortgage® is proud to be Iowa's #1 Rated Reverse Mortgage Lender by the BBB with a Perfect 5.0 Stars and A+ Exemplary Rating.
Since we started in 2004, our goal has remained simple: to offer the best terms with unbeatable customer service.
Compare our competitive rates and lower costs to any competitor and realize thousands more from your home’s equity!
The difference is clear, and we can’t wait to show you!
Iowa Reverse Mortgage Facts
|State||Homeowners Age 62+||Reverse Mortgages Closed Last 12 Months||Purchase Reverse Mortgages Closed Last 12 Months||Lenders in California||Avg. Home Value|
HUD Approved Direct Lender
All Reverse Mortgage® is approved with the Department of Housing and Urban Development (HUD) to originate, underwrite and close the HUD Home Equity Conversion Mortgage (HECM, or “Heck-um”). The HECM is HUD’s acronym for the reverse mortgage program it administers for seniors who are 62 and older.
All Reverse Mortgage® originates in Iowa and offers several reverse mortgage options. In some instances, borrowers are looking to pay off their existing loan and eliminate their monthly mortgage payment. Or, if they already have paid off their mortgage, a reverse loan can help borrowers utilize their equity for other purposes. In some cases, borrowers can do both. They also may use a specific type of reverse mortgage to purchase a new home.
About All Reverse Mortgage® of Iowa
The owners and management of All Reverse were part of the team that wrote and sold the first fixed rate jumbo reverse mortgage in 2008 and as such, have extensive experience in jumbo or proprietary loan programs as well.
We are always looking for new products to offer to borrowers of high valued homes in the higher home priced markets that the HUD HECM may just not serve as well. Jumbo or proprietary programs typically offer much lower Principal Limits as they relate to values though so not all borrowers are better served with the jumbo programs.
Only a seasoned originator can readily inform borrowers which program will best suit their needs and the positives and negatives of each so that the borrower can make an informed decision.
It is no longer uncommon anywhere in the country for a market to be a solid HUD HECM market and then within just a short distance for a niche jumbo market to be located where there is a need for a jumbo program.
Therefore, homeowners aged 62 and above in all markets have seen that the reverse mortgage can be a very solid financial tool, and many are now seeking the reverse mortgage to augment their retirement plans and not so much the mortgage of last resort.
Everything from the elimination of existing mortgage payments to the line of credit that grows make reverse mortgage borrowers understand that this program allows them to utilize their homes to not only live comfortably in their family home, but to plan as well.
Iowa Lending Limits
Iowa is the 30th most populous state in the United States and the 26th largest in terms of land size. As of 2017, approximately 3,145,711 people lived in the state, with more than half of the population located around its urban areas. About 525,333 residents in the state are age 65 and older, and about 70% of people in the state are homeowners.
Named after the Iowa native tribe that lived in the area, the first European explorers in the area were French. During the coming centuries, the land changed hands between the French and Spanish until finally being purchased by the U.S. as part of the Louisiana Purchase. Soon after, farming and agriculture became mainstays for the state, continuing to this day as Iowa is the number one producer of corn in the country. Iowa became the 29th state in 1846.
Des Moines is the state capital and the most populous city in the state, with about 210,000 residents. The city is considered one of the best cities in the country for insurance companies and it is famous for being the site of the first caucuses during the presidential primary season. From 1942 until 2009, it was illegal to dance in the city between 2 a.m. and 6 a.m.
After Des Moines, Cedar Rapids and Davenport are the next largest cities in the state.
Iowa was ranked 12 on Forbes list of ‘Best Places to Do Business.’ Three of the largest companies based in the state are Casey’s General Stores, Rockwell Collins, Principal Financial Group.
Located in the Midwest, Iowa experiences four seasons. Classified as a humid continental climate, it has both very cold winters and hot and humid summers.
The average high in July is 86 degrees Fahrenheit and the average low in January is 14 degrees Fahrenheit. Severe weather is common starting in the springtime, and the state averages 50 days of thunderstorms and 47 tornadoes annually.
The average home value in the state is $140,500 and prices are expected to fall -0.5% in the next year. Given this average, many homes fall below the federal maximum reverse mortgage lending limit of $765,600 that applies to all HECM loans. For more borrowing power above the federal limit, there are jumbo reverse mortgage programs available.
If you reside in Iowa, All Reverse Mortgage® is here to answer your questions.
Iowa Approved Reverse Mortgage Counseling Agencies
Did you know? Iowa state does not mandate in-person counsleing. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.
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
Our Exclusive Programs Designed to Fit Your Needs.
All Reverse Mortgage© has consistently brought exclusive offers to our valued Iowa homeowners. Because of our unique process we're able to offer a better federally-insured reverse mortgage with no compromise.
Take a look at some of our competitive rates that you won't find elsewhere:
|Exclusive 3.68% (5.25% APR) Fixed Rate for Life|
|Government Insured & Jumbo Proprietary Programs|
|Flexible Credit Lines from 3.33% with the Industries Lowest Lifetime Rate Exposure|
|ZERO Origination Fee Plans|
|ZERO Financed Closing Cost Plans|
|ZERO Monthly Servicing Fees on ALL programs|
How can we offer you more favorable terms?We are a direct lender approved by FHA (Federal Housing Administration) The HECM is literally all we do. All Reverse Mortgage is not just a name for us. We have a very low (almost non-existent) staff turnover and our people are experts. We don't work with Brokers, allowing us to pass the savings on to you. We don't hire "celebrity" spokespersons as we don't believe you should have to pay for a lender's expensive marketing budget with higher loan costs. We Charge Less! Check out our competition and our customer ratings. We never forget that this loan is about you and your needs and we put you first with superior service and lower costs.
All Reverse vs. the others
HUD approved Iowa direct lender.
Working with a local Iowa lender saves you time and money.
As an award-winning direct lender our goal remains simple; to offer you the very best terms accompanied by extraordinary customer service.
What Our Customers Are Saying
|"There was no car salesman type of protracted negotiation. All reverse got right down to a good quote without a series of incremental steps."|
|"I was surprised how easy it was to deal with an out of state company. Actually it was much easier than my previous dealings with local banks and brokers"|
|"It is a wonderful feeling to have no mortgage and extra cash in our pocket. We are very happy."|
|"Thank you to All Reverse for handling everything in an efficient and smooth way. Thoroughly appreciate everything you have done to make things easy for me."|
|"This was the smoothest mortgage process I have ever experienced! And so fast!"|