What is an offset mortgage?
An offset mortgage is a loan that works like a checking account. It is a revolutionary alternative to the traditional mortgage as it that allows funds deposited in the checking account to “Offset” the balance of your home loan, signiﬁcantly reducing the amount of interest accruing daily.
This Offset mortgage loan provides borrowers with the flexibility to use their income dollars to drastically reduce their mortgage interest costs, without requiring them to change their budget or lifestyle.
It is a ﬁrst lien position, a 30-year open-ended mortgage (HELOC) tied with an embedded transactional sweep-checking account.
Each loan showcases banking access features including online bill-pay management direct payroll deposit, ACH transferring, ATM-VISA POS cards, personal checks, digital money transferring (wire), automatic bill-pay, mobile check imaging deposits, and all the features of traditional checking accounts.
- Equity can be built 3-4 times faster than a basic 30 yr. mortgage.
- Equity can be leveraged at any time, giving you more money for other investments!
- This loan can give the ability to pay off your home twice as fast without any changes to your spending and without budgeting.
- Helps pay off your home faster making it easier to retire.
- Allows access to the equity in your home for 30 years without refinancing. You will never have to refinance again.
- Freedom to pay minimum interest-only payments when needed.
- Achieve financial freedom and escape mortgage debt.
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Frequently asked questions
What types of property/occupancy qualifies for the "all-in-one" or offset mortgage?
- 1-4 unit residential properties
- Owner occupied
- Investment or second home
- Purchase or refinance