Finding a reverse mortgage generally means using a lender that specializes in them. But the big banks are mostly out of the reverse mortgage business, which means that if you're shopping for a reverse mortgage, you might be choosing among lenders you've never heard of.
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Learn more about reverse mortgages in Iowa, including interest rates, the largest lenders, rules & requirements, and the pros and cons of these loans.
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A reverse mortgage is a type of mortgage loan that’s open to homeowners who are 62 or older. These loans allow these homeowners to convert a portion of their home equity into cash. With a reverse mortgage, the borrower doesn’t make monthly payments to the lender.
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