Legal & Licensing

Coastal Loans, LLC Legal Disclosures and License Information

It is Coastal Loans, LLC policy to comply with the Equal Credit Opportunity Act and the Fair Housing Act. In addition, it is Coastal Loans, LLC policy to comply with state laws that provide greater protection. Coastal Loans, LLC is an Equal Housing Lender, and does not engage in business practices that discriminate against any applicant on the basis of race; color; religion; creed; national origin; ancestry; sex; marital status; familial status (number and age of children); sexual orientation; age (provided that the applicant has the capacity to enter into a binding agreement); medical history; disability; physical condition; military status; because the applicant has in good faith exercised any right under the Consumer Credit Protection Act or Servicemembers Civil Relief Act (SCRA); that all or part of a consumer’s income derives from a public assistance program; or any other basis prohibited by law. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.

State Disclosure Requirements

Coastal Loans, LLC is a licensed mortgage lender in the following states:

TOLL FREE NUMBER: 866-229-1999

Coastal Loans, LLC Affiliated Businesses




Pre-Approval Disclosure

*“Pre-Approval” means an automated underwriting system approval (conditional approval) based upon credit information supplied by applicant and subject to Coastal Loans, LLC’s review of loan documents. Not all applicants will be approved. 

Information regarding risks of reverse mortgages:

  • A reverse mortgage is a loan that must be repaid
  • Circumstances under which payments or access to a line of credit may end or a consumer would be required to repay a reverse mortgage during the consumer’s life (e.g., the borrower sells the home)
  • Foreclosure may occur if the consumer (1) lives somewhere other than the home longer than allowed by the loan agreement; or (2) does not pay property taxes or insurance premiums
  • Consumers must make payments for taxes and insurance during the term of the reverse mortgage
  • Reverse mortgage costs may vary and less expensive options may be available
  • A reverse mortgage may affect eligibility for some government programs. Specifically, SSI and Medicaid may be affected.
  • In order to retain the home when the reverse mortgage becomes due that (1) the consumer or the consumer’s heirs or estate must pay the entire loan balance and (2) the balance may be greater than the value of the consumer’s home.