Why Pay Extra Toward Mortgage Principal? | Bankrate.com

Yes, many people follow the principal of making an extra payment to pay off a loan sooner. Now, there is a much better way that leverages your personal banking deposits to pay down principal and retain equity with a Home Equity Line of Credit in first position. Make your money work for you, not the bank!

Not just another loan, but a solution to the loan itself.

What makes the All In One Loan so powerful is that it isn’t a standard closed-ended mortgage, but instead, a home equity line of credit. Lines of credit are unique because they are flexible, two-way instruments allowing you to apply as much money as you desire toward the balance without losing access to your funds. The All In One Loan provides 30-year access to home equity dollars, has a great low rate, and no hidden fees or required balloon payment.

Additionally, the All In One Loan works just like an ordinary checking account. Yes, home finance and personal banking are bundled together!

This revolutionary design allows you to use your everyday cash flow to offset your loan’s balance and save mortgage interest without requiring a change to your budget.

Deposits made into the All In One Loan pay down principal first and remain available 24/7 through the banking features. The loan comes with ATM cards for all users of the account, secured online bill-pay, unlimited check writing, direct deposit and bank-to-bank wire transferring. Your monthly interest payments are computed on each day’s ending balance, so even as you withdrawal money from your account for regular expenses, your loan’s daily balance is kept lower for longer – and that equates to less interest being charged than with a conventional mortgage.

In effect, you avoid having to pay more interest on your loan using your regular cash flow than what you could typically earn on those dollars in a regular checking account. Less of your money spent on monthly mortgage interest means more of your money left over to help you meet other financial objectives.

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