Ed's Blog

Recently, I was interviewed by the San Francisco Chronicle about new loan products, and in particular, a very interesting one called the Home Ownership Accelerator. I have to say that even though it's not for everyone, this is one cool loan! And that for the right borrower, we're very partial to it around here. In fact, my wife liked it so much that she signed up for one, and has been enjoying it for the past year and a half.

It's a very clever way to manage your cash flow and your mortgage in such a way that you can pay your mortgage off faster and save lots of money. But only if you want to! You see, you could choose to pay interest only, or make no payments at all (if your credit line is higher than your current loan balance), or use the balance of your credit line for things like a new roof, new deck, kitchen remodel, etc.

To get more details, give us a call or send an e-mail. In the meantime, we have a bunch of info on our website. Take a look at the navigation tabs on the left side of this page. Near the bottom, third one up, you'll see “Home Ownership Accelerator.” Click on that. Voila! You can read about it, watch a movie about it, and even interact with a calculator to see how much money you might save. A word of caution: the calculator can be a bit tricky, so don’t be discouraged if it takes you a while to get results that make sense to you.

Depending on how good a saver you are, and how interest rates behave, you might be able to pay your loan off in 10 to 15 years faster without changing your spending habits just by using this loan. Not bad!