What makes this loan pay off sooner?
Directly deposit of your income into this mortgage. It has an immediate and dramatic impact on your principle balance. With this loan, interest is based on your daily balance, so when your paycheck hits, you start saving interest compared to a traditional loan.
What if I have an emergency and need money?
Because this new loan comes with a built-in equity line you can actually pay your bills automatically through bill pay, write a check and even use a debit/credit card. Access to your money has never been easier.
This loan is based on the LIBOR index and interest rates are going up, what will happen to my loan?
Borrowing is no longer just about the rate! Itís about how many dollars of interest you pay on the outstanding balance. And because with this loan your principle balance is continually forced down by your direct deposits, this in effect off-sets any rate increases. Because interest is computed on a daily balance you can sweep business deposits, rental income, commissions and bonuses into your account and watch your loan slowly disappear and interest expense dwindle by thousands of dollars!
Who is the ideal customer for this loan?
The TownCenter Home Ownership Accelerator is ideally suited for people who want to pay off their mortgage for retirement, make investments, and have positive cash flows. These people understand that parking their reserve cash in low interest bearing accounts against their mortgage balance can earn them a much higher return.
What would happen if I got into the loan and didnít like it?
We at no cost to you would change to another loan of your choice at prevailing market rates. This loan comes with a 6-12 month unconditional guarantee, unheard of in the mortgage industry.
The payment is added to your account automatically and as long as there is equity remaining, your payments are made. No thirty day lates and no ruined credit!