By Steven Hyde, Founder, Hyde Funding · NMLS #391380. Reviewed December 2, 2026. Hyde Funding is a mortgage lender headquartered in San Diego, lending nationwide since 2015.
Short answer: A reverse mortgage moves through six stages: the first consultation, HUD-approved counseling, the application and financial assessment, the FHA appraisal, underwriting and title, and closing. On a refinance, a three-business-day right to cancel comes before funding. How long it all takes depends mostly on scheduling counseling and the appraisal, how quickly you send documents, and any title or repair issues.
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A free call or meeting with Steven. We talk about your goals, your home, your current mortgage and your family, and share rough estimates. Call (858) 775-1005 or book a free consultation.
You meet with an independent HUD-approved counselor by phone or in person, and you receive a certificate the lender needs. Find a counselor on HUD.gov, and see HECM counseling.
You sign the application and provide ID, benefit and income statements, your latest mortgage statement, property tax bill, insurance declarations page and any HOA information. The financial assessment looks at your credit and how you have paid property charges.
An FHA appraiser inspects the home and sets its value. If repairs are required, we’ll discuss a repair set-aside. Condos must meet FHA approval rules (condo guide), and manufactured homes need extra documents (manufactured home guide).
Underwriting reviews the whole file and may ask questions. Title confirms who owns the home and what liens are on it. If the home is in a trust, the trust is reviewed (living trust guide). Then you choose your payout plan and schedule the closing.
You sign with a notary at home or at our Miramar Rd. office. On a refinance of your primary residence, federal law gives you three business days to cancel, and funds are released after that. A HECM for Purchase has no cancellation period and closes like any home sale.
Schedule counseling early and keep your documents in one folder. Tell us right away about trusts, HOAs, solar leases or unpermitted additions. Most delays come from surprises.
Whatever your question, these basics apply. A Home Equity Conversion Mortgage (HECM) is the FHA-insured reverse mortgage most homeowners use. The youngest borrower must be at least 62, the home must be your primary residence, and you need enough equity. Any existing mortgage is paid off at closing. Counseling with an independent HUD-approved counselor is required before you apply (HUD counselor search). The lender then reviews your income, credit and history of paying property charges.
No monthly mortgage payment is required. Interest and mortgage insurance are added to the loan balance, so it grows over time and your equity shrinks. You keep title, and you must keep paying property taxes, homeowners insurance and HOA dues and maintain the home. The loan is repaid when the last borrower, or an eligible non-borrowing spouse, sells, moves out permanently or passes away. A HECM is non-recourse: neither you nor your heirs will ever owe more than the home is worth when it is sold (CFPB). For higher-value homes, a proprietary jumbo reverse mortgage may be an option, but it isn’t FHA-insured and its terms differ. See how reverse mortgages work for a full walkthrough.
Bring this list to your HUD counseling session and to your call with Steven at (858) 775-1005.
Hyde Funding is a San Diego mortgage lender founded in 2015, with an office at 8996 Miramar Rd. Suite 250. Steven Hyde (NMLS #391380) will walk you through your timeline in plain English and compare HECM and proprietary reverse options. Your family or advisor is welcome on the call. Every HECM borrower first completes independent HUD-approved counseling (find a counselor on HUD.gov). Start with a free reverse mortgage consultation, read the reverse mortgage hub, or see reverse mortgages in San Diego.
It varies. Counseling, the appraisal, documents and title are the main factors. Call us for an estimate.
Yes. HUD-approved counseling is required for every HECM.
Yes. On a refinance of your primary residence, you have three business days to cancel.
Yes. A notary can come to your home, or you can sign at our San Diego office.
Talk to Steven: (858) 775-1005 · Free consultation · Apply now
Steven Hyde, NMLS #391380 (NMLS Consumer Access). Equal Housing Opportunity. Reverse mortgage borrowers must live in the home as their primary residence, keep paying property taxes, homeowners insurance and HOA dues, and maintain the home, or the loan may become due. The loan balance grows over time. HECMs are insured by FHA. Hyde Funding is not affiliated with HUD, FHA or any government agency. This is general information, not a commitment to lend. Consult a financial or tax advisor.