Mortgages are the backbone of home ownership and an important way to generate wealth in the U.S. They’re also an investment that’s becoming harder to pay off for many Americans.
A recent report shows that borrowers of all ages are dipping into retirement savings to pay down long-term debt, and many are doing so to pay for housing expenses. Of those surveyed, the generational breakdown using retirement savings for housing costs is:
- 28% of baby boomers
- 16% of Gen Xers
- 14% of millennials
- 5% of Gen Zers
Generally, first-time qualified homebuyers can use up to $10,000 tax-free from their retirement accounts to purchase a home. However, dipping into additional retirement savings to pay for housing can incur tax implications that may be more detrimental to long-term savings and livelihoods.
What if there was a mortgage that wasn’t a burden? That didn’t take 30 years to pay off? That could actually help you eliminate housing debt sooner?
Introducing: The All In One Loan
Developed by homeowners and mortgage professionals, the All In One Loan allows you to reduce your mortgage interest without changing the way you spend. It’s flexible, easy to use, and will change the way you think about both mortgages and your money.
What is the All In One Loan?
The All In One Loan is a new type of mortgage
that allows you to use your everyday checking account as a powerful financial
tool that helps you pay down your principal faster while still giving you full
access to your money.
How is the All In One Loan different from traditional mortgages?
With a traditional mortgage, the majority of your payments in the early years go toward interest rather than principal, making them slow to pay off.
The All In One Loan doesn’t prioritize interest payments. Instead, every dollar you deposit into your checking account is immediately applied to reduce your mortgage principal balance. Interest is calculated daily, so the lower the balance on your mortgage, the less interest you owe.
If my checking account is tied to my mortgage, do I still have access to my money?
Yes! You can access your money just like you do today via ATM, check, online and mobile banking, and bill pay. It’s still your money, it is simply working harder for you.
Here's how it works.
Don’t just pay down debt, build wealth.
As your mortgage balance decreases, you unlock access to equity. You can use that equity to fund investments or cover unexpected expenses. Meanwhile, your everyday cash continues to reduce your mortgage interest automatically.
The All In One Loan structure enables you to build wealth by:
- Lowering interest costs
- Increasing financial flexibility
- Offering access to your equity for 30 years
- Without changing how you spend
Today’s expenses can be a burden, but the All In One Loan acts as a solution to making homeownership possible while building wealth. By combining banking functionality with home financing into one dynamic tool, borrowers may be able to shave tens of thousands of dollars and years off their loan.
Is the All In One Loan right for you?
Check out our Interactive Simulator or contact one of our All In One Loan Specialists for more information at (844)222-6562.