By Steven Hyde, Founder, Hyde Funding · NMLS #391380. Reviewed October 20, 2026. Hyde Funding is a mortgage lender headquartered in San Diego, lending nationwide since 2015.
Short answer: Before you can apply for a HECM, you must complete counseling with an independent, HUD-approved counselor. The session covers how the loan works, costs, alternatives and your obligations, and ends with a certificate you need to apply. Sessions are usually by phone or in person. California adds extra consumer protections, including a waiting period after counseling.
Use HUD’s counselor search. The lender gives you a list of agencies but can’t steer you to one.
Eligibility, payout options, costs, the growing balance, non-recourse, property-charge obligations, impact on heirs and benefits, and alternatives such as HELOCs, downsizing and state or local programs.
All borrowers, and ideally any non-borrowing spouse or adult children who help with finances.
Your mortgage statement, property tax bill, insurance declarations, income summary and your questions.
Requirements vary by program and state. Many proprietary lenders also require it.
Often 60–90 minutes.
No.
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.