Reverse mortgages · For homeowners 62 and older
Stay in the home you love, and let its equity work for you.
A reverse mortgage turns part of your home’s equity into cash while you keep living there. The home stays yours, and you keep paying property taxes, insurance and upkeep. Every federally insured reverse mortgage starts with an independent counseling session.
What to know.
The essentials, in plain English.
- Stay in your home
- The home stays yours, and you can live in it as long as you meet the loan’s terms.
- No monthly mortgage payment required
- You make no monthly mortgage payment unless you choose to. You still pay property taxes, homeowners insurance and upkeep.
- Protection for your heirs
- With a federally insured reverse mortgage, neither you nor your heirs owe more than the home sells for.
- Unhurried, with family welcome
- Your loan officer explains every part of the loan at your pace, alongside the independent counseling session, and family is welcome in every conversation.
What happens after you press the button.
- Your loan officer reaches out
- Christine reads what you send personally and gets in touch to talk it through.
- What you’ll talk about
- Your goals, your home and who you’d like included in the conversation, before the counseling session.
- What to have handy
- Your latest mortgage statement, if you still have a mortgage, and any questions written down.
Who it fits
Homeowners 62 and older with significant equity, living in the home as their main residence.
- Homeowners 62 and older
- Owners with significant equity
- Owners who want to stay in their home
- Owners looking to add to their monthly income
What you’ll need
Your loan officer confirms the list with you.
- A photo ID and proof of age
- Your latest mortgage statement, if you still have a mortgage
- Your homeowners insurance and property tax details
- Your counseling certificate, once you’ve met with a counselor
Common questions
Who owns the home?
You do. The loan is repaid when you sell, move out for good or pass away, usually from the sale of the home.
What if the loan grows larger than the home is worth?
With a federally insured reverse mortgage, neither you nor your heirs owe more than the home sells for.
Reverse mortgage or selling and downsizing?
Selling frees your equity but means moving. A reverse mortgage lets you stay, with a balance that grows over time. Your counselor and your loan officer can walk through both, and family is welcome.
Do I still make monthly payments?
No monthly mortgage payment is required. You do keep paying property taxes, homeowners insurance and upkeep, and you can pay toward the loan if you choose.
What happens to my spouse if I pass away first?
A spouse who is a co-borrower can stay in the home. Some eligible spouses who aren’t co-borrowers can stay too, under HUD’s rules, and your loan officer can explain how they apply to you.
What do my heirs receive?
When the loan is repaid, usually from the sale of the home, any remaining equity goes to you or your heirs. Heirs can also keep the home by paying off the loan.
How do I receive the money?
As a lump sum, monthly amounts, a line of credit, or a mix of these. Some choices depend on the kind of rate you pick.
Will checking my options affect my credit?
Answering a few questions doesn’t check your credit. A reverse mortgage does look at your finances later, only with your permission, and your loan officer explains what that review covers.
What if I don’t qualify?
Your loan officer explains why, and your counselor can walk you through other ways to use your home’s value.
What does a reverse mortgage cost?
Closing costs, an upfront and an annual mortgage insurance premium on federally insured loans, and interest that adds to the balance over time. Your counselor and your loan officer go through each one.
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17 reviews of EQ Mortgage Group | Christine Amoah on Google
Arlington families,
in their own words.
“I had the best experience with Christine, she was very knowledgeable, guided my family and I through the process of home purchase and made sure that all our paperwork were in order. She was also great in keeping us updated with the process.”
T T
“I had an excellent experience working with Christine. She is highly knowledgeable, professional, and always took the time to explain each step of the lending process clearly.”
Seraphine Mwi
“★★★★★ Great service! Christine was knowledgeable, responsive, and made the loan process smooth. Thank you!”
uwimana zaituni
“I want to give a huge thank you to Christine for all of her help throughout my home buying journey.”
Mutara Tunga
“Excellent experience with Christine. So helpful and professional. If I have the opportunity to work with any loan officer again, it will definitely be Christine.”
Bankole Adedayo
“I had a very good experience with Christine, she made my process very easy. Her communication is very strong. I highly recommend her.”
MweneKamarampaka 3
“I love the way she talks to me when I have questions she always answers right away and she knows what to do. She’s very good. She’s taking good care of the customers. I was happy working with her”
Uwineza Espe
“Christine Amoah is amazing! As a first-time buyer I had a lot of questions and she made everything so simple and stress-free. She was responsive, patient, and fought to get me the best rate. Communication was 10/10 - I never had to wonder what was happening.”
Cyusa Tunga
“I am so glad and proud we were able to find and work with Christine. Her way of taking time and answer our question and offer help wherever it was needed is unmatched.”
Provie Umugwaneza
“Thank you, Christine, for your great service and cooperation. You have always been ready to answer our questions, provide helpful guidance, and share valuable advice throughout the process. We truly appreciate your support and dedication.”
Alexis
Stay in your home,
on your terms.
Answer a few questions, and Christine talks it through with you at your own pace.
(972) 900-6464