In the midst of the worst economic downturn our country has ever seen there's a major development happening in the mortgage world that could enable you to own your home free and clear in about half the time, save thousands in interest – and the best part - all with no change to your spending. Sound too good to be true? It’s real. It’s called the All in One loan.
The San Francisco Chronicle says “designed to help borrowers accelerate their principal payments as painlessly as possible.” This product will revolutionize the way Americans pay for their homes.
Here’s how it works. You deposit your income (paycheck, investment property rents etc) into the All in One loan until needed for future expenses. This dramatically reduces the principal balance. Since interest is computed on your daily balance, you're gonna start saving interest immediately!
You pay all of your expenses out of your line of credit using checks, the ATM/Visa® P.O.S. card, and online bill-pay, just like your old checking account. Until you need the money though, it stays in your account keeping your balance lower, saving you thousands in interest costs, instead of lounging around in your low-interest checking account.
And paying less interest leaves more of your money for principal, so you could pay off in about half the time (sometimes even sooner) – with no change to spending habits!
Maybe your best mortgage is no mortgage. Visit www.hoamovie.com to play the 5-minute movie. Then contact me and we will plug your own numbers into cost comparison simulator to see when you could pay off and how much you could save. You’ll be a believer after that.
Contact me by email or call me at 714 292-8580 to recieve a free, total cost analysis comparing your traditional mortgage to the All in One. Maybe you'll “kiss your mortgage goodbye” sooner than you ever thought possible.
Jill Korenaga - All in One Certified Agent
MLO, CMPS, FOC
CA DRE #01278138
NMLS #302856
Here is where we’re changing the way mortgages are viewed.
It’s no longer just about the rate. It’s about how many dollars of interest you pay on a lower principal balance. With this loan, your principal balance is continually forced down by your direct deposits, and this can offset the effect of higher rates because you’re paying interest on a lower balance. This effect actually compounds as time goes on. The best way to observe this is to contact Jill Korenaga for a 10 minute walk through using the interactive Simulator. You’ll see why the slightly higher margin on this loan, which is required due to its highly transactional nature, can have such a minimal effect on the overall payoff timing.
You're welcome to contact me anytime. Email or call me today. You've got nothing to lose except years off your mortgage!
You're welcome to contact me anytime. Email or call me today. You've got nothing to lose except years off your mortgage!
FAQ #20. Isn’t access to all that equity a bit dangerous?
You need to be disciplined. But, if you have a good credit history, you get credit card offers each week, and can easily open a home equity line of credit to access your home’s available equity. Any of these offer you the same ability to get into financial trouble. We don’t expect our customers to change their good financial habits just because they take out the HOA.
FAQ #16. What happens if I miss a payment?
The loan is ideal for people whose income might vary. During the first 10 years, you only owe interest, which is automatically added to your principal balance monthly, so there’s really no “payment” to make as long as your principal balance stays below your credit line amount. The only payment you need to make is to stay below your credit line amount.
Webinar: Introducing the Home Ownership Accelerator®
For most people, the hundreds of thousands spent on mortgage interest is the number-one barrier to building wealth. Worse, most “homeowners” will retire with a mortgage. Will you?
Join us on Today, for a lunchtime webinar on a revolutionary new home loan that could put you on the road to mortgage freedom faster and more easily than you ever thought possible.
We’ll be introducing the Home Ownership Accelerator® -- an innovative home loan which uses your own cash flow to help you potentially save tens or hundreds of thousands in interest and pay off years earlier -- all without changing your spending habits!
Don’t miss this opportunity to make an early exit from the world of monthly mortgage payments! Join the thousands of clients who are getting ahead faster, thanks to the incredible power of the Home Ownership Accelerator loan.
Friday, August 27
11:30am-12:30pm Pacific
Reserve your Webinar seat NOW
Fast Facts about the Home Ownership Accelerator®
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Description
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Advantage
|
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Loan Type
|
First-position
home equity line of credit
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Full-service
checking account embedded inside the loan allows all available cash to flow
against the balance until needed for investments or expenses.
|
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Deposit
and withdrawals
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Unlimited.
Deposit or withdraw as much and as often as you need using free online
bill-pay, ATM/debit Card, electronic fund transfers, checks
|
With the
Accelerator, your deposits go against principal first, unlike traditional
home loans. All deposits are credited against your loan balance within one
business day.
|
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Interest
Rate
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Adjustable
Rate Loan based on 1-month LIBOR index
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According
to independent studies, LIBOR is a consumer-friendly index, second only to
COFI for long-term stability. See white paper on adjustable rate
mortgages in our News and Views section.
|
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Margins
available
|
Available margins
are 2.85%. 3.15%, and 3.35% above 1-month LIBOR. Ask your certified agent
about margin pricing.
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A lower
margin reduces long-term interest costs and accelerates loan payoff and
equity build-up. Your agent will present the costs involved for each margin
and run a break-even analysis to see which margin works best for you.
|
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Lifetime
rate cap
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6% over
initial interest rate (index + margin)
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We do not
expect rates to rise dramatically in the near future, but to protect people
concerned with rising rates, the Accelerator offers long-term protection with
our +6% lifetime rate cap (your loan rate never exceeds the cap).
|
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Minimum
credit line
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$100,000
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|
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Maximum
credit line
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$2.5
million
|
|
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Maximum
loan-to-value
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75% of
appraised value
|
|
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Minimum
credit score required
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700 (720
in CA, AZ, NV)
|
|
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States
currently available
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CA, AZ,
NV, UT, OR, CO, WA, MN
|
Look for
new states in late Spring 2010!
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Statements
|
Online banking,
and monthly paper statements detail available balance, withdrawals and
deposits
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You have
all the information you need to track balance reduction, interest charges and
other expenses, just as with your current checking account. You will also
receive a standard tax form 1098 for all the interest paid on the loan each
year.
|
FAQ #17. How do I access the equity in my account for expenses?
Just like you access your bank account. You have online access to view
your account balances and transactions, and you can access funds via
check, ATM, EFT, ACH and bill-pay.
 |
| Watch The Movie |
FAQ #9. Are my payments FDIC insured?
Not until you pay off your debt and run a positive balance. This is a line of credit mortgage, not a savings account, and therefore not FDIC insured. Your cash actually becomes home equity. You are paying down your mortgage, not making a deposit in the traditional sense. Years of traditional banking has trained us to think we need to have a "pile" of money somewhere, when in reality, the banks are using it to loan money to others. In this new approach, you build your wealth in a completely new way — it's in your real estate investment.
 | |
| hoa@mortgageangel.net |
FAQ #23. Won’t paying less mortgage interest reduce my tax deduction?
THE ACCELERATOR SUPPORTS A VARIETY OF FINANCIAL PLANS
Improved
effective return on your cash
Any deposit you make into the Accelerator saves you interest at your loan rate. This often beats the rate on traditional sweep accounts, and offers the same financial flexibility. Money between investments or business projects can't find a better home.
Faster loan payoff to be mortgage-free before retirement
Your cash flow reduces your home loan balance, minimizing interest paid. This frees up funds for paydown. You can aggressively pay down the balance with surplus funds, knowing you can get the funds back if you need them.
Low-cost source of funds for financial investments
As an investor, you can borrow against your home equity at your home loan rate. You don’t need to repay principal for 10 years (or more if you are below your available credit line), standard deductibility rules still apply and the unused credit remains fully liquid in the event you need it.
Faster equity build-up for "harvesting"
For people who plan to tap their home equity for renovations, real estate purchases or other financial projects, the Accelerator offers unparalleled ability to quickly build the needed equity, and to quickly pay it back. Payback starts immediately thanks to your positive cash flow.
No effort required.
Simply point your direct deposit to your Accelerator loan, and sweep spare cash into it, and live your life as before. You make all of your checks, ATM/Visa, transfers and bill-pay out of the integrated checking account - - just like with your old bank. If your employer doesn't offer direct deposit, no worries - -simply set up a regular electronic transfer into the Accelerator from your regular bank account.
Any deposit you make into the Accelerator saves you interest at your loan rate. This often beats the rate on traditional sweep accounts, and offers the same financial flexibility. Money between investments or business projects can't find a better home.
Faster loan payoff to be mortgage-free before retirement
Your cash flow reduces your home loan balance, minimizing interest paid. This frees up funds for paydown. You can aggressively pay down the balance with surplus funds, knowing you can get the funds back if you need them.
Low-cost source of funds for financial investments
As an investor, you can borrow against your home equity at your home loan rate. You don’t need to repay principal for 10 years (or more if you are below your available credit line), standard deductibility rules still apply and the unused credit remains fully liquid in the event you need it.
Faster equity build-up for "harvesting"
For people who plan to tap their home equity for renovations, real estate purchases or other financial projects, the Accelerator offers unparalleled ability to quickly build the needed equity, and to quickly pay it back. Payback starts immediately thanks to your positive cash flow.
No effort required.
Simply point your direct deposit to your Accelerator loan, and sweep spare cash into it, and live your life as before. You make all of your checks, ATM/Visa, transfers and bill-pay out of the integrated checking account - - just like with your old bank. If your employer doesn't offer direct deposit, no worries - -simply set up a regular electronic transfer into the Accelerator from your regular bank account.
If you like what you see, call me to explore this exciting new mortgage in more detail. Together, we can “test drive” the new loan on our simulator and get a real measure of how quickly you could be mortgage-free!*
DRE License 01278138
Rates and terms subject to change. All loans subject to
credit approval. Not all applicants will qualify. “Home Ownership
Accelerator” and the yellow flying house logo are trademarks used with
permission.
*In most cases this is favorable however running the numbers with your trusted tax professional is ALWAYS recommended.
What's the Future of the 30-Year Mortgage?
Rates and terms subject to change. All loans subject to credit approval. Not all applicants will qualify. “Home Ownership Accelerator” and the yellow flying house logo are trademarks used with permission.
Drum Roll Please
If you're like many homeowners in California that have owned a home for 10 years or more your history of refinancing may look something like this:
- 1999 - $300,000 30 year fixed 6.5% to lower monthly payment
- 2003 - $302,000 20 year fixed 5.0% to pay principal faster and save on interest
- 2006 - $285,000 30 year fixed 5.5% to get a little cash out while lowering monthly payment
- 2009 - Here we go again.....
2010 - Finally, a loan program that serves the needs of established homeowners. (This things is the bomb!)
Click the banner below to view a 5 minute movie
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