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Iowa Reverse Mortgage Lenders

Iowa is home to a lot of major financial and insurance companies, especially in Des Moines. The midwest state had been fortunate to not experience too much of a rollercoaster during the housing boom and crash. The state stayed relatively stabled, experienced some economic downturn because of the companies who experienced slowdowns. As a result, many seniors are looking into HECM/reverse mortgage as a way to pull out cash through the equity in their homes. A lot of the loans are still done via online because of many national reverse mortgage lenders no longer in the business. The more populated cities popular among seniors are: Cedar Rapids, Davenport, Sioux City, Waterloo, Iowa City, Ames, Indianola Ankeny, Council Bluffs and of course, Des Moines.

How to Qualify for a Reverse Mortgage?

Seniors looking to qualify for a Iowa reverse mortgage should take realize that no income or credit history factor into qualifying for a reverse mortgage. However, this may change as the government is currently looking into ways to factor in a senior's ability to be current on property taxes and insurance. There are still a few requirements that must be met. The government is considering revamping guidelines to use income as a qualifying metric in early 2013. Choosing different types of reverse mortgages such as the HECM Saver and HECM Standard.

Reverse Mortgage Lenders in IA


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