Our Process

Our process was designed to ensure that your experience throughout meets your needs and exceeds your expectations.

Unlike most competitors, the Equity Home Loan Solutions (EHLS) process offers these distinct advantages to reverse mortgage borrowers:

You can count on a single point of contact throughout from consultation to funding. You’ll never be transferred or passed around to people who don’t know your situation; your EHLS reverse mortgage specialist will answer and return any calls or messages, personally guiding you through each stage.
You can count on proactive communications throughout the process. You’ll never feel as though you have to call us to check on progress; your EHLS reverse mortgage specialist will keep you informed promptly of any and all new developments, contacting you at least once each week throughout the process.
You can count on us to do everything in our power to expedite the process; we share your urgency to close quickly, and your EHLS reverse mortgage specialist will be tenacious in meeting our commitments to you.

Our process is straightforward and transparent, consisting of six key stages from the initial consultation to obtaining your funds.

Stage 1. No-obligation Consultation

When you call for your no-obligation consultation, your EHLS reverse mortgage specialist will listen to all your questions, concerns and goals. Your specialist will have the expertise and time to invest with you to supply the answers, options and clarity you need to adequately assess whether a reverse mortgage is right for you at this time. Your EHLS reverse mortgage specialist will be your dedicated point of contact throughout all the stages of the process.

This consultation includes providing you with an explanation of all the features, options, and transaction costs of the reverse mortgage. You will also receive an estimate of all the costs involved in obtaining a reverse mortgage. Once you decide a reverse mortgage is right for you, the next stage in the process provides a crucial safeguard.

Stage 2. FHA-Mandated Counseling

The FHA mandates counseling for reverse mortgage borrowers, as a safeguard to ensure that you’re fully informed about this loan product. The FHA requires that you complete this counseling session before we can complete an application for you. We’ll provide you with a list of FHA-approved counselors, and your EHLS specialist will assist with any questions. If you prefer, you can even complete this counseling session over the phone.

Stage 3. Application

Your EHLS reverse mortgage specialist will help you complete your loan application right over the phone. We will then set up an appointment for one of our representatives to bring you the completed application and disclosure documents in person for your review and signature.

Stage 4. Loan Processing

This stage includes obtaining an appraisal of your home, title verification, and sometimes a survey and other documents. Your EHLS specialist’s expertise is extremely valuable in this stage, in expediting your submission of required documents.

Stage 5. Underwriting

Once your required documents are gathered, your EHLS specialist will submit them to the underwriting stage of the process. Again, your specialist’s expertise can prove invaluable in expediting any further action required during underwriting.

Stage 6. Closing and Funding

Once the underwriting conditions of approval are met, you’re ready for the final stage. At closing, our process supplies speed, personal service and flexibility. You can even choose to close at your home with a licensed and bonded notary; your EHLS specialist will coordinate all the arrangements. Once closing is complete, there is a Federally-mandated three business-day cancellation period, and then on the fourth business day after closing, your EHLS specialist will ensure the delivery of your funds.