Home Ownership Accelerator Loan Program
Welcome to iCalifornia Mortgage's web page about the Home Ownership
Accelerator. This innovative and powerful home loan uses the power of
your income to slash thousands off the total interest you pay and chop years
off the time it takes to pay off. All without changing your spending habits,
or your access to the cash you earn. The Home Ownership Accelerator
is an amazing new trend in the mortgage market and is one of the best new
ways to finance a home and save your hard earned money!
Call Us Today To Get Started:
(800) 716-1060
iCalifornia Mortgage specializes in this loan!
Learn more About The Home Ownership Accelerator:
- Watch the quick 4 minute movie explaning how it works!
- Use the Home Ownership Accelerator Calculator to find out how much YOU can save.
- Read the most frequently asked questions about the loan program.
- Take a quick view at the top 5 questions with thier answers.
- See what states the Home Ownership Accelerator is available in.
- Read the current clients' testimonials about this revolutionary new loan program.
- Read about the HOME OWNER ACCELERATOR in the MEDIA.
What Others Are Saying About the HOME OWNER ACCELERATOR
"....harnesses the money sitting in a checking account for the borrower's
benefit instead of the bank's." -- San Francisco Business Times,
6/10/05
"....designed to help borrowers accelerate their principal payments
as painlessly as possible." -- San Francisco Chronicle, 5/26/05
"....a one-of-a-kind tonic for people who want to keep their balance
sheets healthy in a time of skyrocketing house prices...." -- Contra
Costa Times, 6/10/05
"....could revolutionize the way Americans pay for their homes...."
-- East Bay Business Times, 6/10/05
How It Works:
Bank your money in your mortgage. With the Home Ownership Accelerator, you direct-deposit your entire paycheck into your mortgage, instead of your checking account. This immediately reduces your principal balance. Since interest is based on your daily balance, you start saving interest immediately compared to traditional loans!
Access your funds just like you're used to. You pay all of your expenses out of your mortgage, just like you would with a traditional bank account -- using the unlimited checks, free ATM/Debit card, and free online bill-pay that comes with the account. Until you need the money, though, it's in your mortgage in the form of a lower principal balance, saving you 5-6% in mortgage interest, instead of earning 1% in a bank account. Less interest means that more of your take-home pay goes towards principal, and you pay off sooner. With no change to spending habits!
If you haven't already, play The Movie: How it Works to find out why this loan is so powerful.
How effective is it?
If you're an average borrower with good cash flow, you could pay off an average sized loan in as little as half the time – with no changes to spending habits.
Let's look at an example:
Imagine you have net pay of $100,000 annually, saving 15% of your net income after expenses, and you have a $400,000 30-year fixed-rate mortgage at 5.5%. And, let's even assume that mortgage interest rates are climbing on a "reverse course" that mirrors their recent decline (APR 8.19%)! A 'worst case' rate scenario!"
Saves interest, pays off sooner.
In this example, refinancing to the Home Ownership Accelerator roughly doubles your mortgage efficiency. You could pay off in as little as 17.3 years and save nearly $89,000 (21%) in interest, compared to the 30-year fixed rate loan at 5.5%. In fact, to save that much interest, you'd have to find a 30-year mortgage at 4.4%, which is very unlikely.
But what if rates go up even more?
In this example, the adjustable rate on the Home Ownership Accelerator would have to average 9.6% over the entire 17.3 years for the interest payments to equal that of the 30-year fixed rate mortgage at 5.5%. That's not likely to happen either.