I forgot to mention that if you wish to use a non AWS SSL certificate (i.e. purchased from a third party), you can upload the certificate file via Identity and Access management.
So we didnt even have a load balancer setup. Once added HTTP started working once i added A record for the new load balancer DNS name. After this we assigned the CERT we uploaded to AWS. The one thing i did figure out after a while is you need to add the inbound rule for the security group for HTTPS to the EC2 instance and we were good.