The Options Process
Most lenders go straight from "hello" to "fill out this application." I don't. There's a step in between where I do the work and you see every option before you commit to anything. That step is the whole point.
Discovery
15 to 30 minutes, by phone or video. This step is for me. I need to understand where you are and where you want to end up: ages, the home, any mortgage or liens, roughly what credit looks like, and what you want life to look like after. The whole situation, not the tidy version. No documents. No application. No credit pull.
Options
Within one business day. I run your scenario across the lenders I have access to and come back with one to three real options, each with the numbers, the costs, and the trade-offs. If it doesn't work yet, you get the exact reason, what would need to change, and a plan to get there. Think of it as a proposal, not a pitch.
Your decision
On your timeline. This is your step, pulled out on purpose so your decision sits at the center of the process. Take it to your spouse, your kids, your advisor, your CPA. Ask me anything. Pick one, or pick none. If "wait" is the right answer, I'll have already said so.
Execution
Typically 30 to 60 days for a HECM, 21 to 30 days for most forward loans. Application (online or over the phone), documents, HUD counseling for reverse mortgages, rate lock, appraisal, underwriting, conditions, clear to close, and signing. I process my own files and I represent you to the lender, so you have one person to call the entire way.
What it costs
Discovery and Options are free. There is no fee for the consultation, the scenarios, or my time. If you proceed, the money you'll spend before closing goes to third parties who charge everyone: the appraisal, and for reverse mortgages, the HUD counseling session. Those are due whether or not the loan closes. My compensation is shown in your loan disclosures (the Loan Estimate and Closing Disclosure on a forward loan; the Good Faith Estimate and HUD-1 on a HECM) and is paid at closing. If your loan never closes, I'm never paid.
Why the middle step exists
Because the two fears I hear most are "I'll be embarrassed when they tell me no" and "I'll end up approved for the wrong thing." Discovery handles the first: there is no application to be rejected from. Options handles the second: you see the alternatives side by side before anyone pulls credit. Sometimes a loan fits. Sometimes waiting or another approach makes more sense. Either way you leave knowing what's possible, what isn't yet, and exactly what would change the answer.
If you're outside the states I'm licensed in
I'm licensed in 20 states, listed in the footer, with Illinois pending. If your home is somewhere else, a Barrett Financial Group loan originator who is licensed there will lead your consultation and your file, and I'll be on the calls with you. You'll still get the same process.
What to have handy for Discovery
- Ages of everyone on title
- Rough home value (Zillow is fine for now)
- Balance on any mortgage or HELOC
- A sense of your credit (no pull needed)
- What you want to accomplish
For self-employed borrowers: how your business is structured and roughly what it deposits in a year.
Book Discovery
Pick a time that suits you. Family members and advisors are welcome on the call.
Talk with DaveYou don't need all the answers to ask the first question.
Tell me what you're considering. A 15 to 30 minute conversation, then within one business day your options in writing, or the plain reason it doesn't fit yet and what would change that. No application, no credit pull.
The consultation and the options review are free. If you choose to proceed, third-party costs such as HUD counseling and an appraisal may be due before closing. Licensed in 20 states; see the full list below.
Prefer the phone? 623-698-5294, Arizona time.