This innovative and powerful home loan uses the power of your income to slash thousands off the total interest you pay and chop years off the time it takes to pay off. All without changing your spending habits, or your access to the cash you earn.
Details: Bank your money in your mortgage. With the Home Ownership Accelerator, you direct-deposit your entire paycheck into your mortgage, instead of your checking account. This immediately reduces your principal balance. Since interest is based on your daily balance, you start saving interest immediately compared to traditional loans.
Access your funds just like you're used to. You pay all of your expenses out of your mortgage, just like you would with a traditional bank account - using the unlimited checks, free ATM/Debit card, and free online bill-pay that comes with the account. Until you need the money, though, it's in your mortgage in the form of a lower principal balance, saving you 5-6% in mortgage interest, instead of earning 1% in a bank account. Less interest means that more of your take-home pay goes towards principal, and you pay off sooner. With no change to spending habits!
URL: www.home-ownership-accelerator.net
Category: Mortgages
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