Compare Reverse Mortgage Specialists in West Des Moines, IA
Directory of reverse mortgage specialists in West Des Moines, Iowa. Verify credentials with the state state mortgage licensing authority before hiring.
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the
State Mortgage Licensing Authority of Iowa before hiring.
Showing 14 reverse mortgage specialists in West Des Moines, IA
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
What Does a Reverse Mortgage Specialist in West Des Moines Cost?
Typical costs for a reverse mortgage in Iowa include an origination fee of up to 2 percent of the home value a mortgage insurance premium of 2 percent of the appraised value and third party fees for appraisal title and recording which range from 500 to 1500 dollars. Closing costs in Iowa average between 3000 and 6000 dollars. These costs can be financed into the loan. This is general information not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What qualifications should a reverse mortgage specialist in West Des Moines have?
Look for a specialist who is licensed in Iowa and has completed the National Reverse Mortgage Lenders Association certification. They should also have experience with Iowa property tax deferral programs and local housing market conditions.
Are there Iowa specific rules for reverse mortgage counseling?
Yes Iowa requires all reverse mortgage borrowers to attend a HUD approved counseling session before applying. The counselor must be independent from the lender and the session can be done in person or by phone.
How do West Des Moines property values affect reverse mortgage amounts?
Reverse mortgage amounts are based on the appraised value of your home up to the FHA lending limit. In West Des Moines typical home values are moderate which can provide a reasonable amount of equity for qualified borrowers.