Paying for Independence

GoGo Financing Options: Live more on less

GoGo offers flexibility when it comes to helping you pay for the services that meet your needs. In addition to our low income plans, we offer two other financing options: Home Equity Conversion Lines of Credits and Family Payment Plans.

Line of credits

As you’ve been paying off your mortgage, you’ve been building up equity in your home - similar to a piggy bank.
A Home Equity Conversion Line of Credit allows you to start dipping back into that bank and draw down from the value of your home to pay for things you need.
When you qualify for a line of credit, you get a credit card you can use that draws from the equity you have in your home. You can spend as much or as little as you want up to a percentage of the value of your home, but you have to keep up with your property taxes, bills and maintenance expenses. GoGo can help you stay on top of your finances and connect you to vendors in our network that offer affordable interest rates on these loans.
However, the interest and servicing costs on these loans can be expensive - and ultimately those costs come out of what your heirs inherit. Your heirs may find that contributing to your needs now saves your estate money in the long run and a GoGo Family Payment Plan may be a better option. See below to compare our two financing options.
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Family Payment Options

Getting help from your family members now may help your family’s estate save money in the long run.
Our Family Payment Options help your support network contribute to the cost of your care.

Family, friends or community members can choose to contribute a fixed amount towards your GoGo costs every month, or pay a percentage of whatever you need. For example, instead of taking time off work, a family member could pay for the first $20 of a ride, or contribute 25% to the cost of groceries.

Of course rising inflation and a shaky economy means that not every family has funds available up front to take advantage of our Family Payment Options. In those cases a Home Equity Conversion Line of

Credit may be a better option that offers immediate cash, even if it comes with interest and fees that get paid off later by your estate. See below to compare our two financing options for a typical case of someone needing an extra $2,000/year to stay independent: a Home Equity Conversion Line of Credit versus a Family Payment Option.
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Financing Options

Amount Needed per Month

Home Equity Conversion Line Of Credit

Family Payment Option

Estimated Interest per Month
One-Time Closing Costs
Total paid by family estate over 7 years
Time to close
30 days
Age Requirements
62 and up
No requirements
Funding Restrictions
50% - 60% of home value
No restrictions
Comparison assumptions: For the average American with a home value of $350,000 looking for support to pay for rides, groceries, meals, medication management and home services over the course of 7 years. Using 2022 Home Equity Conversion Loans interest rate of 4.81% compounded annually.
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Learn more about GoGo's membership plans.

Family comes first, GoGo helps you out on the rest.

Send us a query about our Family Payment Option
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