Our Reverse Mortgage
Discount Advantage

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Good Day Reverse offers discounts on the origination fee and monthly servicing fees for all HECM reverse mortgage programs. We also disclose multiple programs, disclosing different rates and margins, so that you can pick what works best for you. The result is better loans, lower fees and more money in your pocket.

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Our exclusive reverse mortgage discounts not only save you money, but they put more money in your pocket at funding. In addition, we try and offer reverse mortgage programs that can offer more available money than our competitors. Every dollar that we save you is an extra dollar that you receive back. When you save more you get more!

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Our goal is to help you, the homeowner, get the reverse mortgage program that works best for you. Once we save you more and get you more we know you will relax and enjoy life a little more. Have a Good Day!

Reverse Mortgage Fees and Costs

Discounted Origination Fee

Good Day Reverse is excited to announce that we have updated our origination fee discounts for 2018! At a minimum we discount our origination fee by 25%. In scenarios where a loan balance is $200,000 or more we offer programs where we discount the origination fee by 50% and even waive completely down to $0!

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$0 Out-of-Pocket Appraisal Fee

You do not need to pay an out-of-pocket appraisal fee. Nada. Zip. Zilch. We give all of our clients the option to pay the appraisal fee outside of closing, or have us finance the fee, so you don't have to pay out-of-pocket. We make it easy!

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Choose From Multiple Programs

Choose the reverse mortgage program that works best for you! In 2018 it is more important than ever that you have multiple options to choose from since the program can be a difference of qualifying for $15,000 less, or when working with Good Day Reverse a possibility of $15,000+ more!

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$0 Monthly Servicing Fee

No monthly servicing fees are charged on any of our HECM government insured reverse mortgage programs. This not only saves $25-$35 a month on your loan, but it also qualifies you to receive thousands more. This discount does not apply to the proprietary jumbo reverse mortgage program.

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Reverse Mortgage Fees and Discounts Explained

What is an origination fee?

One of the reverse mortgage fees that a lender is allowed to charge for the services of originating a reverse mortgage. Lenders are allowed to charge 2% of the appraised value up to a maximum of $6,000.

What are financed fees?

Financed fees, or closing costs, are items associated with the origination of a reverse mortgage by third party companies. These are items that are required by the lender and/or the government to satisfy any conditions needed for the loan to be completed. They can include, but not limited to title, escrow, signing service, credit report, trust review and closing document fees.

What is IMIP?

IMIP stands for Initial Mortgage Insurance Premium. This is an upfront fee that gets paid to the Federal Housing Administration (FHA) to insure your reverse mortgage. Unlike the MIP discussed on the Rates and Programs page the IMIP is a one-time charge. The IMIP is 2% of the appraised value, or max claim amount of $679,650. To find out more about what your IMIP rate would be please request a special offer quote.

What is an appraisal fee?

All reverse mortgages require a complete appraisal from an FHA approved appraiser. The appraiser will indicate the property value that will be used for the reverse mortgage. These can typically cost between $450-$550.

What is a monthly servicing fee?

Typically, a lender can charge between $25-$35 a month to service a reverse mortgage. In addition, there is a servicing fee set-aside created on the loan. This is usually a sum of $2,000-$5,000 that is set-aside to pay the monthly servicing fee. That $2,000-$5,000 is taken from the money you qualify for through the loan, so you will receive that much less.

Request a special offer quote now!

Request your special offer reverse mortgage quote now and see just how much more you get with Good Day Reverse. Why get less when you can get MORE!


Or, give us a call and talk with one of our reverse mortgage advisors. Toll-Free: 877-676-6542.