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(651) 552-3692
Eric Metzler
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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?
CALL US. We are Certified Home Ownership Accelerator Specialists, or see the answers to Frequently Asked Questions that customers often have.
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