Good Day Reverse Mortgage Review


Rating: 8.1 / 10 (Excellent)
14 Customer Comments & Reviews - see all comments
Disclosure: We receive advertising revenue from this partner. 
Learn more.
Good Day Reverse is mortgage company that operates in Arizona, California, Colorado, Florida, Oregon, and Washington. 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 discounted origination 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 Arizona, California, Colorado, Florida, Oregon, and Washington, they can be a great option for residents of these states, 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
4.18%
Variable Rates Starting At
3.75%
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. Their out-of-pocket appraisal fee is $0, which means borrowers do not have to pay for the appraisal themselves by check or credit card.

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

Leave a comment for Good Day Reverse Mortgage
Minimum 2-3 sentences.
 No maximum length.
* What's Your Rating?
To make this comment as helpful as possible for our community, please provide at least 2 sentences.

14 Customer Comments & Reviews

Loading Reviews ...
Richard K
Windsor, California
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
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
South San Francisco, 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.



Top Rated
Our Partner
8.1 / 10
  • Reverse Mortgages Made Simple
  • New Reverse Mortgage Programs That Offer MORE For Less
  • Exclusive Discounts on Reverse Mortgage Origination Fees
  • 100% Satisfaction Rate – ConsumersAdvocate.org
  • No Out-of-Pocket Appraisal Fee on HECM Reverse Mortgage
  • Member of National Reverse Mortgage Lenders Association
  • Innovative Company That ONLY Offers Reverse Mortgages