How To Find A Reverse Mortgage That Offers The Most Money

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There are many types of reverse mortgage rates and programs, but which ones offer the most available money to homeowners? As often as we hear homeowners talk to us about current reverse mortgage rates and whether they are fixed or adjustable we hear of people being concerned with the amount of equity they qualify to receive in a reverse mortgage.


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So which programs and rates qualify homeowners for the most money! The good news for everyone reading this is that the programs and rates that offer the most available money tend to be the programs with the lowest rates and margins. In addition, discounts and credits can play a role in offering the homeowner more money too.


Good Day Reverse is your discount reverse mortgage company. With our innovative approach you are able to choose the reverse mortgage program that works best for you all for a discounted cost. The results are better loans, lower fees and more money in your pocket. Why get less, when you can get more!


Get the Most Money From Your Reverse Mortgage With Discounts And Lower Financed Fees


The first way that you can try to get the most money from your reverse mortgage is to compare different companies programs to find the best reverse mortgage that offers the most discounts and the lowest financed fees.


The origination fee is a good place to start. The origination fee is a fee that the lenders and brokers charge the homeowner to originate a reverse mortgage. This fee is calculated as 2% of the initial $200,000 in appraised value and 1% everything above and beyond $200,000 capping at a maximum fee of $6,000.


Every dollar that is discounted on the origination fee is an extra dollar you receive back. This is a great way to shop around, so you not only save money on the costs of the reverse mortgage, but you also put more money back in your pocket.


Check out the Good Day Reverse Comparison Calculator on this page to view your exclusive reverse mortgage origination fee discounts!


Get The Most Money From Your Reverse Mortgage With Finding The Lowest Margin or Rate Programs


How much money each homeowner qualifies to receive in a reverse mortgage is based on the following criteria.


  • Home value
  • Age of the youngest borrower/homeowner
  • The reverse mortgage program and rates


Since the appraised value of your home is up to an independent appraiser and you cannot magically change your age we are left with the obvious to work with. How can we find the reverse mortgage program that offers us the most amount of money?


The starting approved loan balance in the reverse mortgage program is called the “principal limit.” The lower the rates the higher the principal limit. It is that easy.


Make sure to try the Good Day Reverse Comparison Calculator to see an example of just how much more money you can receive depending on the reverse mortgage program and rate/margin that you are quoted.


Get The Most Money From Your Reverse Mortgage With A Jumbo Reverse Mortgage


The HECM reverse mortgage programs, which are insured by the government, account for the majority of reverse mortgages right now. However, the HECM programs have a lending limit, or maximum appraised value, of $726,525. While this is a sufficient amount for many homeowners in America right now, for those homeowners with home values higher than $726,525 they can see their available money capped.


A jumbo reverse mortgage program can allow home values up to $6,000,000! That is right $6,000,000, which offers a newfound freedom for those homeowners with home values higher than the $726,525 lending limit. Since these programs are proprietary they also usually come with lower fees than the HECM programs, which can also free up more money for the homeowners to receive.


If you would like a jumbo reverse mortgage quote please contact a reverse mortgage advisor at 877-676-6542, or fill out the Comparison Calculator quote request form and we will send you a quote right away.


Get More With Good Day Reverse!


Good Day Reverse is a reverse mortgage company that prides ourselves in trying to offer the most competitive reverse mortgage programs for the lowest available cost. Please take the time to review our Comparison Calculator on this page and request a quote if you would like to see just how good our reverse mortgage programs are for your personal situation.


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Good Day Reverse, Inc is licensed or registered to engage in reverse mortgage loan origination activities in the state of  California


Jason Heyl, is an experienced reverse mortgage advisor for Good Day Reverse, Inc. He is a reverse mortgage industry veteran with over a decade of experience. If you have any questions or comments on this article please let me know below. Thanks for reading. Have a Good Day!


  1. Would like a refinance on my existing reverse mortgage. What is a jumbo Re fi.I would like the old one paid off to get a new one
    My reverse has a balance of $316,000.

    • Hi Sharon,
      The good news is that it is allowable to refinance your existing HECM reverse mortgage into a new HECM reverse mortgage in order to obtain more money and/or a better program. Also, as you eluded to we also have great jumbo reverse mortgage programs that are non-FHA, so they allow us to go above the FHA lending limits if you property is worth more.

      Both of these options are great, but first we need to ask you a few questions about your current reverse mortgage and property, so we can better advise. Please contact us directly to speak with a reverse mortgage advisor. Our toll-free number is 877-676-6542.

      Thanks Sharon! Have a Good Day!

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