Unlock the full potential of your home with our Equity Advancer First Lien HELOC. By making regular deposits into your checking account, you can lower your mortgage balance, reduce overall interest, and shorten your loan payoff time.
Unlike traditional mortgages that require refinancing to adjust payments, Equity Advancer automatically reduces your scheduled (or minimum) payment in proportion to any principal paydown providing multiple flexible payment options. Enjoy immediate access to available credit for home improvements, debt consolidation, and unexpected financial needs, with the option to seize opportunities for future investments. Experience the flexibility and financial freedom that comes with Equity Advancer.
Our Equity Advancer First Lien HELOC offers a unique opportunity to quickly build home equity. It includes a checking account that sweeps deposits nightly against the principal balance of the Line of Credit. This feature helps reduce interest and pay down your mortgage much faster than a traditional amortized mortgage. Once the credit limit is set, based on qualifying criteria, it remains unchanged for the first 10 years, then gradually decreases each month by 1/240th until paid off.
When you make a deposit into your combined checking account, the balance is automatically swept each night. This means the deposited money is applied to the principal balance allowing you to save on monthly interest expenses, as interest is calculated on the remaining principal. Thus, enabling you to use your deposits effectively, lowering your interest expenses and pay off your loan faster!
To qualify free-and-clear properties for our First Lien HELOC, the minimum draw requirement must be met. This will allow you to leverage your fully paid-off properties effectively.