Mortgage acceleration programs

Mortgage Accelerator Programs are pretty complicated and require intense discipline to stay on track. If you can follow the Mortgage Accelerator Program process, you can save a lot of interest expense by paying your mortgage off faster. Sounds great in theory, right? The first thing you need to know is you MUST have positive cash flow.

In other words, your monthly income is greater than your monthly expenses. In the Financial Mortgage Accelerator Program, the more positive cash flow you have, the more interest you can save and the faster you can pay off your home. Deposit your entire paycheck directly into your mortgage. Interest on mortgages accrues daily, not monthly.

But the big question is, how do you pay your bills? Get a credit card and put all of your monthly expenses on it. You must pay off your credit card every month, or the entire Financial system falls apart. This is really where the rubber meets the road. If you lack the discipline this strategy could easily put you in a worse position than without having tried it because credit card interest rates are substantially higher than mortgage interest rates.

Also, because a HELOC is a line of credit, banks can put a freeze on it, just as they did with many during the Great Recession this actually happened to me. If the banks did it once, they can easily do it again.

Repeat the process. As great as this sounds on paper, rarely do things work out this simple in real life. The metaphor of the matador is extremely apt. This is precisely what the matador does with the bull.

Distracts them and wears them out with the cape so that they never see the sword. The banks dangle this wonderful mathematical concept of what might happen thirty years down the line for that one tenth of one percent of people who actually keep the loan that long and pays extra money while doing it, hoping you are so fascinated by it that you never notice that they're charging you more up-front fees and a higher interest rate than you would have gotten with a traditional mortgage, and often, more in monthly maintenance fees that you save by depositing all of your pay.

In short, the lender is making more money off of you by pretending to do you a favor. So shop loans by interest rate and cost, and then if they'll let you put a mortgage accelerator on it for free, great! If not, they're just trying to distract you from what is really important by offering you a convenience and a cool-looking trick, while charging you hefty amounts of money and tricking you into thinking you are getting something beneficial.

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Try to be respectful. Those who make a habit of trollish behavior will be banned. Leave a comment. Email Address. The date when you begin to overpay your mortgage, or pay more than the required monthly mortgage payment.

The amount by which you overpay your monthly mortgage payment Please Amount of Monthly Overpayment. When you provide your personal info we may connect you with lenders which enables you to compare mulitple mortgage proposals. Comparing proposals from multiple lenders is the best way to save money on your mortgage. Your consent is not a condition to work with a lender or to qualify for a mortgage. Please review our Privacy Policy for more information.

NMLS: Outputs With No Acceleration. Your required mortgage payment plus the amount of your monthly overpayment. The number of required mortgage payments when you overpay your mortgage. Accelerating your mortgage reduces the number of required monthly payments. Reduction in Number of Monthly Mortgage Payments. Reduction in the required number of monthly mortgage payments when you overpay your mortgage as compared to the required number of mortgage payments when you do not overpay.

Total interest expense over the life of the mortgage when you overpay your mortgage. Accelerating your mortgage reduces the total interest expense over the life of the mortgage. Reduction in total interest expense over the life of the mortgage when you overpay your mortgage as compared to total interest expense when you do not overpay.

Thank you for submitting your calculation. We have also provided your contact info to up to four lenders so that you can find the mortgage that is right for you. Continue to use the calculator and perform as many calculations as you like as your contact info is only submitted once. We may provide your information to a mortgage acceleration program provider.

Top Lenders Lowest Rates Free. Mortgage Acceleration Basics Accelerating your mortgage means paying more than the required monthly payment. When You Can Accelerate Your Mortgage Borrowers have significant flexibility over when and by how much you accelerate your mortgage. Beware of Mortgage Acceleration Scams Borrowers do not have to pay any extra fees to accelerate their mortgage. Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums.

Read through our lender table disclaimer for more on rates and product details. Our calculators rely on assumptions by us and inputs and assumptions provided by you, which may be inaccurate. The outputs from our calculators are estimates only and should not be used as the sole basis for making any financial decisions.