Every HECM borrower must complete counseling with a HUD-approved agency before closing. Ryan and Steve help you schedule the right session, understand the certificate, and prepare questions about taxes, insurance, and heirs.
Congress and HUD require independent counseling so seniors understand how reverse mortgages work before signing. The counselor is not your lender — they explain obligations, costs, alternatives, and risks such as unpaid taxes, moving out, and how the loan affects heirs.
After the session you receive a counseling certificate. Lenders cannot close a HECM without a valid certificate for each required participant. Certificates expire after a set period, so schedule counseling close enough to your application timeline that it remains current through underwriting.
Non-Borrowing Spouses who will continue living in the home are often required to attend as well, so everyone understands occupancy and repayment rules. Ryan and Steve at Luminate Bank coordinate timing so counseling does not delay your closing.
Come prepared with questions — counseling is your independent education session.
A simple path from first call to certificate.
Step {i + 1}
Step {i + 1}
Step {i + 1}
Step {i + 1}
Related guides on qualification, costs, and property charges.
Age, equity, and financial assessment requirements.
Property charges counselors emphasize before you close.
Counseling fees plus MIP and closing costs.
Ask Ryan & Steve how to schedule HUD counseling.
2MG Daily
Recent articles on reverse mortgages, home equity, and retirement financing.
No related blog posts yet. Check back soon for the latest updates.
Ryan & Steve can walk you through who must attend and what to ask — not a commitment to lend; subject to credit and property approval.