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Good Day Reverse Mortgage Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
25 Customer Comments & Reviews - see all comments
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Good Day Reverse is mortgage company that operates 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 discounted origination fees.

How is Good Day Reverse rated?

Breakdown

4.5/5
Transparency & Reputation
4.5/5
Loan Options
4.5/5
Availability

Overall Rating: 4.5 / 5 (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.

Transparency & Reputation

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

Transparency & Reputation - 4.5 / 5


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

Loan Options - 4.5 / 5


Good Day Reverse Availability

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

Availability - 4.5 / 5


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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25 Customer Comments & Reviews

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Chet S
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
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
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
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.