No worries, you don't need to make $10k a month for this strategy to work. It's all about how you manage your cash flow, not the exact amount. We have numerous examples of people with varying incomes benefiting from this approach. Check out our explainer video for more insights: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

Nope, you actually won’t have two monthly payments. By "depositing" your paycheck into the HELOC, it counts as a payment itself each month. For more details, check out this video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

Great point! Having an emergency fund is a smart move. Our strategy focuses on optimizing your cash flow to pay off the mortgage faster while still maintaining liquidity. Here’s a detailed video explaining the benefits: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

Thanks for your feedback! You're right that making extra payments on the principal can save substantial interest over time. The key difference with our strategy is optimizing cash flow to achieve similar goals more efficiently. For a deeper dive into how this works, check out our explainer video: kzbin.info/www/bejne/jpqaZoKGmrOqnKs.

@@TheKwakBrothers My friends, I have watched videos. I have run the numbers. In your scenario 9% is not more efficient than paying for extra to the mortgage. It also doesn’t increase cash flow. By definition, taking out the extra loan obligates payments toward that loan which decreases cash flow. Here is an idea. Run the numbers using your method, calculate total payments, interest etc. Do the same without the 9% loan and just making extra payments. Let me know the results.

If you’re considering paying off your mortgage with your HELOC, it's important to weigh the benefits and interest rates. Our strategy focuses on leveraging cash flow to optimize your payments and pay off the balance faster while maintaining flexibility. For detailed insights, check out our explainer video here: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

Since you're using a zero down VA loan, getting a HELOC right away might be challenging due to the lack of instant equity. However, paying extra on the principal each month is still beneficial. Our strategy focuses on optimizing cash flow to accelerate payoff, so it can still be valuable to explore. Check out this explainer video for more details: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

No worries, it's a lot to take in! Typically, you’d pay off your credit card in full each month to avoid interest charges. With our strategy, we use cash flow effectively to manage both your mortgage and credit card payments. Check out our explainer video for a deeper dive: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

@@TheKwakBrothers I finally got it after 4 hours of rewatching videos lol

Paying off your mortgage has nothing to do with capital gains. Capital gains ONLY apply to appreciation beyond your purchase price. Also, the $250k/$500k tax exemption applies to the first $250k of profit as a single filer or the first $500k of profit. So if you bought a home for $900k and sold it for $1.1m... the capital gain is $200k. So in this scenario, you are not paying capita gains. So no - mortgage and what you owe has nothing to do with capital gains.

⁠@@TheKwakBrothersYou misunderstood. When you go to sell your paid off home understanding Capital gains is huge. IMO. I have $900k in equity. Paid $300k for house. Owe $200k. I didn’t know CG is based on purchase price. House worth $1.1m today. Been in same house over 20 years. So, using purchase price of $300k and $1.1m house is worth today that leaves me with $800k taxable. By filing jointly I get the first $500k tax free. This leaves me with $300k CG taxable. At 25% I would be paying $75k in CG taxes. IF I pay the remaining $200k off I walk away with $1.1m, $500k tax free, $600k taxable. At 25% I will owe $150k in taxes. If I leave the $200k on my mortgage do I only pay CG on $800k minus $500k leaving me with $300k taxable or $75k in CG owed?Just trying to wrap my mind around this, selling home soon. Thanks for your help.

Again, the mortgage has nothing to do with capital gains. Since you bought your home at $300k and if you choose to sell, you are correct in saying that you have a capital gain of $800k. If you're married, then yes - the first $500k of the profit is not taxable. But the remaining $300k of profit would be taxable. I highly recommend that you speak with a CPA or a qualified tax professional to get the details of your tax consequences.

Finding the best bank for a Personal Line of Credit (PLOC) can depend on your personal financial situation and what each bank offers. Part of our program helps you identify the right banking partner for this purpose. To get more detailed guidance, consider joining our webinar where we dive deeper into selecting the right banking products: acceleratedbanking.com/webinar-registration-515174331635781964831sl=.

Is there also a toggle to switch it to bi weekly payments as well?

It sounds like there might be an issue with the download. For bi-weekly payments or other advanced features, it's best to reach out for an updated version or consult the support team. Meanwhile, you can use our online calculator here: acceleratedbanking.com/home.

Yes - you guys have something called an offset mortgage that's literally designed for this

Thank you so much, you and your brother do an amazing job.

Most families make $10k easily though. I work a blue collar profession ( electrician) and make $75k after tax rough and my wife is in child care and makes $35 k. We could work more but have a family. It's still tight though. I don't know anyone making less than $50k that's over forty.

I understand your concern about interest rates. The strategy isn't just about comparing rates; it's about leveraging cash flow for faster payoff. Think of it like switching from a horse to a supercar-both get you there, but one is way faster. Check out this video for more insights: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

A HELOC could be a good option given the increase in your property's value. It allows you to leverage your home equity for paying off your land contract or other financial needs. For more specifics on how it can work in your scenario, check out this explainer video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

With HELOC rates at 5.5% and your mortgage at 5.6%, it could be beneficial to explore using the HELOC to optimize your payments. This approach can help you manage your cash flow more efficiently. For a deeper dive into how this can work for you, check out our explainer video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

I completely understand your point! Paying off credit card balances monthly can indeed help improve credit scores. If you’re curious about how our strategy goes beyond just credit scores and delves into smarter debt management, check out our explainer video: kzbin.info/www/bejne/jpqaZoKGmrOqnKs.

@@TheKwakBrothers - not a prospective customer, but thanks for your reply. Additionally, suggesting loans to be used partially for investments can be, and has been, risky business. Folks need to tread with extreme caution when considering even small portions of loans such as HELOCs for investments. Again, thank you for your reply.

Velocity banking might not make sense if your financial situation changes in a way that significantly impacts your income or cash flow, like job loss or a major life event. It also might not work well if the banking products you’re using don’t align with the strategy. If you want to learn more about when this strategy could work best, check out our explainer video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

If you’ve been saving up in an offset account, that's great! It shows you're already taking steps to reduce interest. Our strategy builds on that concept, using the flexibility of certain banking products to accelerate mortgage payoff even more. For a better understanding, check out our explainer video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

Nope, it's not about losing your house! The goal is to manage your cash flow smartly to pay off your mortgage faster. If curious about how it works, check out this explainer video: kzbin.info/www/bejne/jpqaZoKGmrOqnKs.

No worries! Your HELOC doesn't need to be more than your mortgage balance for this strategy to work. It's all about managing cash flow smartly. If you want to see how it can work for you, our explainer video goes into more detail: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

Yes, it can still work if you have other debts like personal loans or car loans. Our strategy is about smart cash flow management, which means you could use it to reduce multiple types of debt over time. To learn more, check out this explainer video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

Paying down the principal is a solid approach, but our strategy leverages flexible banking products to pay down your mortgage even faster without needing extra payments. This method can save more on interest and reduce the loan term significantly. Check out this explainer video for more details: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

I understand why you might consider a first-position HELOC or an all-in-one loan. However, not all financial products work the same way. Our strategy is specifically tailored to leverage the flexibility of certain banking products to optimize debt repayment. For more details, check out our video explaining the benefits and how our method works: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

I understand your concern. While fluctuating rates can be challenging, our strategy focuses on using financial products in a way that manages these risks effectively for debt repayment. It's about smart cash flow management and informed decision-making. The key is leveraging the flexibility of certain banking options to your advantage. For a deeper dive into how this works, check out this video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

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With a HELOC, during the draw period, you typically only pay interest. After the draw period ends, you start paying back both principal and interest. The flexibility of a HELOC allows you to manage your payments in a way that can help reduce your mortgage more efficiently. For a deeper dive, check out our explainer video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

I understand the skepticism. It might seem complex at first, but many homeowners have found success with our strategy once they understood how it works. It's all about smarter cash flow management, not magic. If you're curious, our explainer video might help clarify things: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

Yeah it is, more “smoke and mirrors” actually. You could easily just make extra payments on a conventional mortgage with a lower interest rate and you would actually pay off your home faster because less of your money would be going to interest and instead would be attacking the principal. It’s a very compelling strategy the way it’s explained but it’s definitely not more efficient, the math is actually super simple and it doesn’t add up.

Not quite! The $20,000 from the HELOC is used to make a lump sum payment on the mortgage. This isn't a one-time thing but a process you can repeat to keep reducing your mortgage balance faster. So, for higher loans, yes, more from the HELOC might be needed. You should check out the video for a more detailed breakdown: kzbin.info/www/bejne/jpqaZoKGmrOqnKs. It'll help clarify the strategy!

It's definitely possible to put extra towards your mortgage when you get paid. As for using your escrow to lower the mortgage balance and paying it yourself at the end of the year, that would depend on the terms set by your lender. To learn more efficient ways of managing your payments, check out our explainer video: kzbin.info/www/bejne/jpqaZoKGmrOqnKs.

Great question! Yes, you would also have to account for the interest you’ll accrue on the HELOC. Even though your HELOC interest rate is 8% and your mortgage is 2.125%, our strategy focuses on leveraging cash flow to reduce the overall debt faster. It might seem counterintuitive, but many clients still save more overall. For a detailed explanation, check out our video: kzbin.info/www/bejne/fnrZnmRtndSlZ9U.

The strategy of using a financial product with a higher interest rate than your mortgage might seem counterintuitive at first glance. However, it fundamentally revolves around the way these products are structured and how you can manipulate your cash flow for debt reduction. The notion here is not merely about the interest rates, but more so about flexibility and the capability to reduce principal faster than with traditional long-term amortized loans. By strategically channeling your cash flow through the line of credit, you can frequently reduce the principal amount owing, thereby reducing the compound interest accumulating over time. For a deeper understanding of how paying off a low fixed-rate mortgage with a potentially higher rate line of credit can still be beneficial, you might find this video explanation helpful: kzbin.info/www/bejne/fnrZnmRtndSlZ9U. Here, the strategy is detailed with mathematical examples showing the potential benefits despite the higher interest rate.

I think you not only consider interest rate, but also time and balance. If you are throwing your paycheck in the HELOC every 2 weeks, it really doesn’t have time to accrue much interest, because you are constantly knocking the balance down. If you are 2 income household, then you have 4 checks going into the HELOC to knock down the balance even faster.

yes u r rite. concept he says on closing mortgage outstanding with HELOC LOAN but still liable for 10 percent HELOC loan.

It’s great to hear about your experience with your car loan, and I appreciate your perspective on the interest aspect. It's indeed vital to consider the overall interest paid when evaluating financial strategies. The Accelerated Banking strategy, often discussed in our detailed resources, does consider the interest rates of financial products such as lines of credit. While these rates may be higher than a conventional mortgage, the key advantage lies in the flexibility these products offer - allowing for a more dynamic approach to principal reduction, which can counteract the higher interest rate effects over time. For a deeper understanding of how this works, even with higher rates, I recommend watching the specific video that addresses your concern about paying off a low fixed-rate mortgage with a higher rate line of credit: kzbin.info/www/bejne/fnrZnmRtndSlZ9U. This video explains the mathematical benefits and showcases examples that might clarify the potential savings in both interest and time, despite the apparent higher rates.

You obviously don't understand velocity banking. Do some more research. The earlier you start the better result.

Yes. I just received my 1st HELOC and it only has a 3 year draw and uses a checkbook. Dam I wished I had a 3 year draw period.

It's great that you're considering using your existing HELOC to work towards paying off your mortgage faster! Using the strategy you've described-paying down the HELOC balance before the interest accrues-can indeed be an effective way to manage the financial product without incurring much interest, depending on the specific terms of your HELOC. Just to clarify, most HELOCs accrue interest daily on the outstanding balance, so if you pay off your balance before your statement period closes, you minimize the amount of interest charged. However, it's important to understand the specific terms of your HELOC regarding how interest is calculated and any potential fees associated with payments or balance refreshes. If you're considering using this strategy and have about 6 years left on your HELOC, it might be a good time to review your approach to ensure it aligns with your financial goals. If you’re looking for more detailed guidance or examples of how this can work, attending one of our webinars could be beneficial. You can register here to learn more: acceleratedbanking.com/webinar-registration-515174331635781964831sl