Reverse mortgage in Iowa
HUD's own loan records show who lends in Iowa, where the loans are and who counsels.
- Iowa saw 93 HECMs closed over a year
- $245,000 was the Median home value HUD counted
- Longbridge Financial had the most HECMs in Iowa (28)
In Iowa, 93 reverse mortgages closed between September 2025 and August 2026, 0.4% of the 24,529 loans nationwide, according to HUD's HECM data, ranking 43rd of the 50 states and DC.
Among those loans, 3 used a HECM for Purchase to buy a home, and 8 refinanced an older HECM.
Comparing Iowa HECMs with national figures
The final two rows are based on the calculator.
| Iowa | Against all HECMs | |
|---|---|---|
| HECMs closed | 93 | 0.4% of all 24,529 |
| Median home value counted | $245,000 | $195,000 less |
| Median principal limit | $106,085 | $88,087 less |
| Principal limit as a share of value | 42.7% | 0.7 points lower |
| Median expected rate | 5.875% | the same |
| HECM for Purchase | 3.2% | 2.3 points lower |
| Refinanced HECMs | 8.6% | 2.3 points lower |
| Lenders with a loan here | 10 | of 34 nationwide |
| Amount left after costs at age 70 for a median home with no mortgage | $81,720 | $69,820 less |
| Usable in the first year at age 70 | $43,892 | $39,712 less |
Iowa HECM lenders ranked by loan totals
In Iowa, 10 lenders sponsored HECMs. The top three lenders, Longbridge Financial, Mutual of Omaha Mortgage, along with Finance of America Reverse, made 75 of 93 loans, or 81%. Make a comparison with the national ranking.
| Rank | Lender | HECMs | Share |
|---|---|---|---|
| 1 | Longbridge Financial | 28 | 30.1% |
| 2 |  | 28 | 30.1% |
| 3 | Finance of America Reverse | 19 | 20.4% |
| 4 | Traditional Mortgage Acceptance Corporation | 8 | 8.6% |
| 5 | Guild Mortgage | 3 | 3.2% |
| 6 |  | 2 | 2.2% |
| 7 | PHH Mortgage | 2 | 2.2% |
| 8 | University Bank | 1 | 1.1% |
| 9 |  | 1 | 1.1% |
| 10 | Plaza Home Mortgage | 1 | 1.1% |
Iowa lenders and brokers that originated HECMs
Iowa HECM applications were taken by 21 companies. Apart from the national names above, the firms that originated the most were New American Funding (8), Atlantic Avenue Mortgage (8), Loandepot.com (6), West Capital Lending (3), The Federal Savings Bank (1), Movement Mortgage (1), Midwestone Bank (1) and Lower (1). These counts are of the company that originated each loan, while the ranking above counts the lender that sponsored it, so the two lists are not comparable.
Locations where Iowa HECMs were issued
Polk County recorded 16 of the 93 loans, leading Woodbury with 4. Des Moines (7) had the most loans among the cities, followed by West Des Moines (3), Sioux City (3), Council Bluffs (3) and Dubuque (3). City names are the mailing city on each HUD record and can reach into nearby counties, so a city's count need not match the county table.
| County | HECMs | Share |
|---|---|---|
| Polk | 16 | 17.2% |
| Woodbury | 4 | 4.3% |
| Linn | 4 | 4.3% |
| Scott | 4 | 4.3% |
| Dubuque | 4 | 4.3% |
| Johnson | 3 | 3.2% |
HUD-approved counselors for reverse mortgages in Iowa
HUD identifies 1 counseling agency for reverse mortgages based in Iowa. Their phone numbers appear in HUD's counselor search.
| City | Agency | How they counsel | Languages |
|---|---|---|---|
| Waterloo, IA | CCCS of Rochester-Northeastern Iowa | phone, in person, video, group | English, Spanish |
Iowa property tax relief for older homeowners
Iowa homeowners can get an extra homestead tax exemption on $6,500 in taxable value if they are age 65 or older by January 1 for the assessment year. Homestead Tax Credit and Exemption | Department of Revenue.
Who oversees reverse mortgage lenders in Iowa
In Iowa, IDOB handles mortgage license regulation through NMLS. Details are in Applications & Forms | Division of Banking.
Every state. The source is the HUD HECM portfolio snapshot, covering September 2025 to August 2026.