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GoodLife Home Loans Reverse Mortgage Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
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Founded in 2012, GoodLife Home Loans is a lender focused primarily on reverse mortgages. Family-owned and operated, GoodLife Home Loans provides exceptional, single-point-of contact customer service and very competitive rates. The company is headquartered in Bellevue, Washington.
 
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How is GoodLife Home Loans rated?

Breakdown

4.5/5
Transparency & Reputation
4.8/5
Loan Options
4.5/5
Availability

Overall Rating: 4.6 / 5 (Excellent)

GoodLife Home Loans prides itself on its customer support and works with you to not only help you secure a reverse mortgage but to decide whether this is the right move for you in the first place. The company provides a lot of useful information about reverse mortgages on its website and clearly describes how its own reverse mortgage program works.

GoodLife is family-owned and operated and provides single-point-of-contact service to simplify the process of applying for a reverse mortgage. You can call or fill out the contact form on their website to get started.

Transparency & Reputation

Lender Type
Lender
Nationwide Mortgage Licensing System ID
971307
Nationwide Mortgage Regulatory Actions
1

Transparency & Reputation - 4.5 / 5

GoodLife Home Loans has an excellent online reputation. The company earns a 4.9 out of 5 star rating on Trustpilot, which is impressive enough on its face, but even more so because few mortgage companies are rated so highly. The Better Business Bureau gives the company an A+ rating. The company does have one Nationwide Mortgage Regulatory action against it, but again, this amounts to an exceptional record.

GoodLife Home Loans Loans

Loan Types
HECM Traditional
HECM for Purchase
HECM Refinance
Proprietary Reverse Mortgage
Payout Options
Lump Sum Payment
Monthly Payments
Line of Credit
Minimum Home Equity
50%
Maximum Loan Size
$4,000,000

Loan Options - 4.8 / 5

GoodLife Home Loans offers all the reverse mortgage options you'd expect and lets you choose from a lump sum, monthly payment, or a line of credit. It doesn't disclose information about its fees online, which isn't unusual for a reverse mortgage lender. However, according to public information provided by HUD, GoodLife’s interest rates have been among the lowest in the industry.  The company requires you to contact the company to discuss your options to ensure that a reverse mortgage is right for you, so when you do this, you can inquire about rates and fees.

GoodLife Home Loans Availability

Total Consumer Financial Protection Bureau Complaints
0
Site Features & Mobile App
Home Equity Calculator
BBB Rating
A+
Number of BBB Positive Reviews
5
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
2
Date Collected
2022-10-14

Availability - 4.5 / 5

GoodLife Home Loans's reverse mortgages are accessible. Anyone with at least 62 years of age may apply for a HECM. For a Jumbo, you need to be at least 55 years old. The reverse mortgage loan program does not utilize credit scoring and does not use a debt-to-income calculation so reverse mortgages are usually available even to seniors whose credit ratings aren't top-notch.

Contact & Additional Info

Homepage URL
https://goodlifehomeloans.com/
Company Phone
(866) 840-0279
Headquarters Address
777 108th Avenue NE, #1670, Bellevue, WA, 98004
Year Founded
2012

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Customer Comments & Reviews

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RICHARD B
10/7/2021
I WISH I HAD GONE WITH ANOTHER REVERSE MORTGAGE COMPANY .I APPLIED FOR MY REVERSE IN MID JULY.THEY ASK FOR STUFF THAT SHOULD HAVE GOTTEN A LONG TIME AGO.I WOULD NEVER RECOMMEND THIS COMPANY TO ANYONE!

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