Good Day Reverse Mortgage Review


Rating: 8.1 / 10 (Excellent)
5 Customer Reviews - see all reviews
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How is Good Day Reverse rated?
8/10
Lender Details
9/10
Loans
8/10
Consumer Experience

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.
 

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Latest Reviews

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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
San Diego, California
4/1/2017
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
Pacifica, 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
11/11/2016
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.

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