Less Less Mortgage

How it works.

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 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!

How effective is it?

If you're an average borrower with good cash flow, you could pay off an average sized loan in as little as half the time – with no changes to spending habits.

Let's look at an example:

Imagine you have net pay of $100,000 annually, saving 15% of your net income after expenses, and you have a $400,000 30-year fixed-rate mortgage at 5.5%. And, let's even assume that mortgage interest rates are climbing on a "reverse course" that mirrors their recent decline (APR 8.19%)! A 'worst case' rate scenario!

Saves interest, pays off sooner.

In this example, refinancing to the Home Ownership Accelerator roughly doubles your mortgage efficiency. You could pay off in as little as 17.3 years and save nearly $89,000 (21%) in interest, compared to the 30-year fixed rate loan at 5.5%. In fact, to save that much interest, you'd have to find a 30-year mortgage at 4.4%, which is very unlikely.

But what if rates go up even more?

In this example, the adjustable rate on the Home Ownership Accelerator would have to average 9.6% over the entire 17.3 years for the interest payments to equal that of the 30-year fixed rate mortgage at 5.5%. That's not likely to happen either.

Seeing is believing. Try it for yourself.

Use our powerful Interactive Simulator and see how the Home Ownership Accelerator can help you achieve financial freedom sooner.

Still have questions?

See the answers to Frequently Asked Questions that customers often have.

Specifications.

Loan type: Adjustable rate line of credit, based on 1-month LIBOR index.
Adjustment period: monthly
Term: 30 years
Lifetime cap: 5% over start rate
Minimum credit line: $100,000
Maximum credit line: $1,000,000
Minimum down payment: as low as 20%
Minimum credit scores: 680 (excellent credit)
Withdrawals: ATM/Visa P.O.S. card with 8 surcharge-free ATM transactions per month at any ATM, checks, bill-pay, ACH, EFT.
Payments: Direct payroll deposit (required), EFT, ACH,Bank by mail.
Statements: Monthly. Online account access.