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Good Day Reverse Mortgage Review


Rating: 8.1 / 10 (Excellent)
10 Customer Comments & Reviews - see all comments
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Good Day Reverse is mortgage lender that operates solely in California. Established in 2016, Good Day Reverse requires HUD and FHA counseling prior to disbursement of their HECM and proprietary reverse mortgage options. Good Day aims to make the lending process as easy as possible, with quick quotations, online guides, and $0 fees.

How is Good Day Reverse rated?

Breakdown

8/10
Lender Details
9/10
Loans
8/10
Consumer Experience

Overall Rating: 8.1 / 10 (Excellent)

Despite being a newcomer to the reverse mortgage industry, Good Day Reverse is a company to watch out for, in a good way. They promote themselves as customer-centered, with all originations and processing done in-house, in order to streamline their mortgages. They also provide more discounts than most reverse mortgage lenders, making it possible for borrowers to pay nothing for origination, servicing and processing. However, the relative youth of the company does mean that there is not much history to judge them by.

Lender Details

Lender Type
Broker
2016 HECM Loan Value
$540,936
Nationwide Mortgage Licensing System ID
1500380
Nationwide Mortgage Regulatory Actions
0

Lender Details - 7.5 / 10

Though Good Day Reverse only offers reverse mortgages in the state of California, they can be a great option for Californians, as they do all their processing and originations in-house. This reduces the amount of interference in the mortgage process. Their dedicated loan advisors are advertised as available whenever needed, even at night or on the weekends.

Good Day Reverse Loans

Loan Types
HECM Traditional
HECM for Purchase
HECM Refinance
Proprietary Reverse Mortgage
Payout Options
Lump Sum Payment
Monthly Payments
Line of Credit
Fixed Rates Starting At
5.54%
Variable Rates Starting At
1.227%
Appraisal Fee
$0
Origination Fee
$0
Closing Fee
$0

Loans - 8.5 / 10

Good Day Reverse offers government-backed traditional HECMs, HECMs for Purchase, and Refinance HECMs, as well as Proprietary Reverse Mortgages for homes whose value exceeds FHA guidelines. These can be paid out in lump sums, monthly payments, or lines of credit, according to the borrower's needs. The companies advertised rates are highly competitive compared to other lenders.

Good Day Reverse Consumer Experience

Site Features & Mobile App
Online Quote
BBB Rating
A-
Number of BBB Positive Reviews
2
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
0
Date Collected
2017-08-17

Consumer Experience - 8 / 10

Good Day Mortgage has very little reviews or online consumer presence compared with other reverse mortgage providers. This is probably due to the fact that they're a very new company. However, the few that are available uniformly praise the company for their outstanding customer service. They do provide an online quote, as well as some tools and educational resources on their website, albeit less than other comparable companies.

Contact & Additional Info

Homepage URL
Company Phone
(877) 676-6542
Headquarters Address
12655 W Jefferson Blvd, 4th Floor, Los Angeles, CA, 90066
Mailing Address
12655 W Jefferson Blvd, 4th Floor, Los Angeles, CA, 90066
Year Founded
2016

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10 Customer Comments & Reviews

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Paul P
11/4/2017
A line of credit reverse mortgage with low closing costs was something we had decided would give us a desirable level of security. Although we also wanted to deal face to face with a provider we found closing costs offered locally to be on the high side. We ended up choosing Good Day, located in another city, because they had substantially lower closing costs. And to our pleasant surprise doing business over the phone and by email with agent Janette Heyl was smooth and efficient. We have recently closed and thank her and the rest of Good Day staff for the excellent service.


N
Nathaniel H
Los Angeles, California
10/24/2017
Janette Heyl from Good Day Reverse is one of the best and most ethical business professionals with whom I've ever worked. I come from the financial field and she is: 1) Extremely patient, kind and proficient. 2) Her knowledge of the reverse mortgage field is exceptional. 3) She has the patience of Job & is extremely easy with. 4) She's ethical & honest. 5) Unlike many in the reverse mortgage industry, she recommends consumer focused choices that don't have what in the mortgage business are called, "Junk Fees." 6) She works harder than anyone.


S
Scott
Sacramento, California
10/24/2017
To Whom It May Concern, After dealing with 2 other reverse mortgage brokers firms we were dazed, confused and turned off about the process and were unsure what we would be ending up with. After reading some very positive reviews we decided to check in with this company; Good Day Reverse Mortgage, and hear what they had to offer. Janette Heyl was the representative we spoke with. She did not try to dazzle us with figures or pressure us to do anything without first considering several other options. With her help everything worked out smoothly, always keeping us in the loop and answering everything thought or concern of ours as if we were speaking with a good friend. A few days after... Read More


Marilyn P
Roseville, California
10/4/2017
Good Day Reverse Mortgage is an excellent company to deal with. Janette Heyl was our loan person and she is so wonderful! She kept us informed of every step, walked us through the application process and just was there whenever we had a question. This was the easiest process because of Janette. I would recommend Good Day to anyone seeking a reverse mortgage. It was a pleasure doing business with them.


P
PEvery
San Jose, California
10/1/2017
I was initially concerned about starting this whole process, but after speaking with Janette Heyl, a Reverse Mortgage Advisor, I felt more at ease and comfortable. She explained every step to me and made sure that I fully understood everything there was to know about Reverse Mortgages. This made things less stressful for me because I knew what I was signing up for. I would wholeheartedly recommend Ms. Heyl to anyone who is considering doing a Reverse Mortgage.


C
Chet S
Fontana, California
6/18/2017
Jason Heyl with Good Day Reverse Mortgage was the loan agent on my original reverse mortgage in 2014 After talking to many other companies, Jason was able to offer the best rates and service. There were a couple of huge obstacles that nearly ended the loan process. My social security number was erroneously tied to a defaulted federal housing loan. Jason worked hard and helped me clear this identity mistake from my record so my application could be submitted. Then, the appraiser called for an electrical line to be moved and the electric company said it had been installed to code and refused to move the line. Neither would back down. After detailed communication by Jason with the... Read More


Richard K
6/14/2017
I recently became interested in reverse mortgage arrangements when I learned that start up fees and costs had been reduced to affordable ranges. I began inquiries on the internet and learned also that valuable consumer protections had also been put in place in recent years. I sought information and quotations from at least four top reverse mortgage providers and completed the required counseling sessions. Other reverse mortgage companies provided a great deal more information up front online about the rules and guidelines to reverse mortgages than did GoodDay Reverse Mortgage Co. And other companies apparently had been fully vetted in the Reverse Mortgage Business longer. GoodDay... Read More


Tom C
Coronado, California
3/31/2017
We were shopping for minimum closing costs. Initial brokers wanted over $11,500. Found Good Day on the web. Jason Heyl was our Good Day broker. He was right on top of everything. Very professional and responsive. He quoted us closing costs of $5600, half of all the other companies we had contact. On the day we signed doc he told me he was able to get a $2000 credit. That made the total closing costs $3600! Using Jason and his company was not a good day, it was a GREAT DAY! I would recommend Jason without reservation.


C
Curtis P
Cupertino, California
3/25/2017
The experience was very good. Each step of the way was clearly laid out with efficient communications and procedures. Jason was friendly and professional. We got a very good deal and ended up paying even lower fees than expected. Highly recommended.


Sandy E
Fort Bragg, California
11/10/2016
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.



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8.1 / 10
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