Reverse Mortgage Programs


Fixed Rates

All of our fixed rate reverse mortgage programs have no origination fees. In addition some fixed rates have additional credits to pay for most, if not all, of the other costs associated with the loan. Get your fixed rate locked today!

Adjustable Rates

Adjustable rate programs offer additional ways to access your money through a reverse mortgage. You can utilize a line of credit, lump sum, or receive a monthly disbursement...or all three. These programs have flexibility, so you can choose how you want your reverse mortgage to work!

Choose Your Program

With our innovative approach you are able to choose the reverse mortgage rate and program that works best for you all for a discounted cost. We disclose different programs on our special offer quote and work with you, so that we can help provide your ideal reverse mortgage.



Reverse Mortgage Rates & Programs

- GOOD DAY REVERSE - MONTHLY LIBOR PROGRAM

Adjustable

  • Index Rate 10-17-17: 1.235%
  • Margins: 2.00% to 3.50%
  • Adjusts Monthly
  • $0 Origination Fee
  • $0 Finance Fee Options
  • $0 Out-of-Pocket (ex: HUD Counseling)

- GOOD DAY REVERSE - ANNUAL LIBOR PROGRAM

Adjustable

  • Index Rate 10-17-17: 1.805%
  • Margins: 2.00% to 3.75%
  • Adjusts Annually
  • $0 Origination Fee Options
  • $0 Finance Fee
  • $0 Out-of-Pocket (ex: HUD Counseling)

- GOOD DAY REVERSE - FIXED RATE PROGRAM

Fixed

  • Current Rates Updated 10-17-2017
  • Rates: 3.99%(APR 5.54%) to 5.06%(APR 6.2867
  • Fixed For Life of Loan
  • $0 Origination Fee
  • $0 Finance Fee Options
  • $0 Out-of-Pocket (ex: HUD Counseling)

Loan Scenarios: All of our fixed rate programs have no origination fees. Additional credits start at the 4.50%(APR 6.01%) fixed rate to help pay for finance fees. A $0 finance fee loan scenario for the fixed rate option starts at 4.75%(APR 6.07%) with a starting principal limit of $100,000. $0 origination fee options for the LIBOR programs start with a loan balance of $50,000. $0 finance fee options start at a loan balance of $100,000.


What is a LIBOR rate?

Libor stands for London Interbank Offered Rate. It is the rate index that all adjustable reverse mortgage rates are based around. It is the rate banks use to lend money to each other on the wholesale money market. Reverse mortgages are currently available with an annual and monthly adjustable LIBOR.

What is a margin?

The margin is a fixed rate that is associated with the LIBOR reverse mortgage programs. It is added to the LIBOR index rate to achieve the initial reverse mortgage interest rate. The margin never adjusts on a reverse mortgage. It remains fixed for life. the only rate that adjusts is the LIBOR index rate.

You can read more about reverse mortgage rates by reading 12 Must Know Tips About Reverse Mortgage Rates.




Reverse Mortgage Loan Process

COUNSELING

There is a required counseling appointment for reverse mortgages. It is conducted by a third party counseling company that is HUD approved. Mainly held over-the-phone.

APPLICATION

Once you have been pre-qualified and completed counseling we can send out your application.

APPRAISAL

We make it easy and order your appraisal. You will also not need to pay out-of-pocket for the appraisal with Good Day Reverse.

UNDERWRITING

This is the final step to get your overall approval to close your reverse mortgage loan. We usually get initial approvals in just 24-48 hours.

CLOSING

You're done! We send a closer to your property with the final papers to sign. After the standard 3-day rescision period your reverse mortgage funds!


We Make It Easy!

We have created a quick and easy reverse mortgage loan process, which is so effective that it is now patented. OK, maybe our process isn’t quite patented, but it should be. Since all we do are reverse mortgages in California we have created a process that expedites your loan. We take care of anything and everything. You might even find us getting your newspaper in the morning and wishing you a good day!



Our Service


24/7 Customer Service


Next Day Air Application Delivery


NO Loan Processing Fees


$0 Out-of-Pocket Appraisal Fees


Exclusive Discounts and Credits


24-48 Initial Underwriting Approvals


One Dedicated Reverse Mortgage Advisor


Provide List of Approved Counselors


We Make It Easy!




Let's Get Started On Your
Special Offer Quote


Now that you have seen the discounts and advantages Good Day Reverse offers it is time to request your quote. Your reverse mortgage just got better. Why get less when you can get more!


REQUEST A QUOTE

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