Good Day Reverse Review

#7 in Reverse Mortgages

Good Day Reverse is a mortgage company that offers discounts and several credit options for reverse mortgages. Good Day Reverse also offers no service fees and appraisal fees on their reverse mortgages in addition to no financed fees and no origination fee options.  

Services and Features

Good Day Reverse Mortgage offers several reverse mortgage programs to choose from. They include an adjustable monthly libor program, adjustable annual libor program and fixed rate program. All programs require no out-of-pocket fees excluding HUD counseling.

The company requires borrowers to undergo a mandatory FHA counseling appointment. Once a borrower has been pre-qualified and completed counseling, the company will send out an application. Once your appraisal is completed along with all necessary documentation your application will be conditionally approved in 24-48 hours. The company will move forward with your reverse mortgage loan to the final closing step. After the standard 3-day rescission period the borrower’s reverse mortgage funds.

Good Day Reverse provides an online request form to get a quick estimate on reverse mortgage rates and fees. They also provide a list of FHA approved counselors. The company offers credits and exclusive discounts with no loan processing fees. Good Day Reverse also offers next day air application delivery with 24/7 customer service.

Services and Features

Reverse Mortgage Calculator

Online Quotation

Refinancing

Financial Guide

Types of Reverse Mortgage

VA Loans

Single-Purpose Reverse Mortgage

Home Equity Conversion Mortgage

Proprietary Reverse Mortgage

Qualifications

Counseling

Home Owner

Amount of Equity

Not Stated

Age

62 Years and Older

Accreditation

Member of US Department of Housing and Urban Development

Member of Nation Reverse Mortgage Lenders Association

Insured by FHA

Approved by Equal Housing Opportunity

Plan Details

No Pre-Payment

No Monthly Servicing

Interest Rate

Adjustable (Monthly Libor Program) – 2.00 to 3.50%

Adjustable ( Annual Libor Program) – 2.00% to 3.75%

Fixed Rate Program – 4.50% (APR 6.01%) to 5.06% (APR 6.28%)

Closing Cost and Fees

Not Stated

Help and Support

Mobile App

Telephone Support

Webinars

Email

FAQs

 

Rates             

Monthly Libor Program

Adjustable

Annual Libor Program

Adjustable

Fixed Rate Program

Fixed

Index Rate: Monthly Libor

Index Rate: Annual Libor

Current Rates Updated

Margins: 2.00 to 3.50%

Margins: 2.00% to 3.75%

Rates: 4.50% (APR 6.01%) to 5.06% (APR 6.28%)

Adjust Monthly

No Origination Fee Options

No Finance Fee Options

No Out-of-Pocket (ex. HUD Counseling)

Adjust Annually

No Origination Fee Options

No Finance Fee Options

No Out-of-Pocket (ex. HUD Counseling)

Fixed for Life of Loan

No Origination Fee Options

No Finance Fee Options

No Out-of-Pocket (ex. HUD Counseling)

Reverse Mortgage at Good Day Reverse

Good Day Reverse is a good place for discounts and low rates for reverse mortgages. Their programs help reverse mortgage borrowers get the best deal available in the market. Good Day Reverse also has options to not charge any origination, finance, appraisal and servicing fees which helps borrowers qualify for more money.
 

Latest Reviews

Start your review for Good Day Reverse
Sandy Eis
Good Day Reverse review
11/11/2016
Jason Heyl is VERY helpful & makes the process a simple as can be. I have used him twice now & highly recommend him & Good Day Reverse.