Home Page For Reverse Mortgage

Iowa Reverse Mortgage is an informative resource for senior homeowners to learn about a reverse mortgage and if it is the best financial option for them. We have a great deal of resources available for you including information, a reverse mortgage calculator and a resource guide for you as well.

A reverse mortgage is a viable option for seniors 62 and older who have adequate home equity. A reverse mortgage is offered through the FHA and was put into affect so that seniors can stay in their home for the rest of their lives. The loan is due until the homeowner moves away from the property or passes away.

The results of a 2006 AARP survey indicate that the two most common uses to take out a reverse mortgage are to pay off an existing mortgage and to pay for medical and daily living expenses.

A reverse mortgage is a loan for homeowners 62 and older that uses the home as collateral. The loan amount is a percentage of the property’s value influenced by the age of the youngest homeowner. The loan is due until the last surviving homeowner moves out of the home or passes away.