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Reverse Mortgage

Review your financial security options with a Reverse Mortgage Loan

A Reverse Mortgage allows you to access a portion of your home’s equity to obtain funds to supplement your retirement income.

how to Apply

What is a Reverse Mortgage Loan?

A Reverse Mortgage, also known as a Home Equity Conversion Mortgage (HECM)1, from MidWestOne lets you access your home’s equity to help fund your retirement needs. If you qualify, you won’t have to make a monthly mortgage payment for as long as you live in and maintain your home.2

how to Apply

1 The HECM loan program is offered through the Federal Housing Administration (FHA) and should not be viewed as a government benefit; mortgage insurance is required.

2 Regular payments must be made for taxes and insurance, however. Loan Repayment: Repayment of loan balance, fees and compounded interest will be required when a maturing event occurs. Examples of a maturing event include, selling the home, borrower no longer occupies the home or is deceased, not paying homeowners insurance and property taxes, or not keeping the home in good repair, as required by the FHA. Failing to meet these requirements can trigger a loan default that can lead to foreclosure.

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How can I use a Reverse Mortgage Loan?

If you’re age 62 or older and have sufficient home equity, you may be able to get the funds you need to:

  • Pay off your existing mortgage3
  • Pay off medical bills, vehicle loans or other debts
  • Improve your monthly cash flow
  • Fund necessary home repairs or renovations4
  • Establish a safety net for unplanned expenses


3 Your existing mortgage, if any, must be paid off before obtaining any funds from a HECM loan; you can use proceeds from the HECM loan for this purpose.

4 If your home needs repairs to be eligible for a HECM loan, you may be able to use the proceeds of the loan to accomplish this.

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How to Apply

For more information and to discuss whether a Reverse Mortgage or other alternatives would help you best meet your financial goals, talk to John or provide your contact information in the form below.



    Reverse Mortgage Banker
    Certified Reverse Mortgage Professional (CRMP)®

    NMLS: 400531

    Division: Home Mortgage

    Location: Serving all MidWestOne locations

    Phone: (952) 646-1063


    Bank NMLS: 528720

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