For many first-time homebuyers or those with less-than-perfect credit, navigating the world of mortgage options…
Why the All In One Loan, Why Now?
Why the All In One Loan, Why Now?
Whether we are ready to face it or not, at some point in our lives, every one of us will eventually leave the labor force, and hopefully, on our own terms. But saving money for retirement isn’t easy, especially while paying for those expenses that seem to surface during our peak earning years. But what many borrowers may not realize is just how much of an obstruction to future financial goals their mortgage can be.
Well, one of the things that I find when I work with clients is that when they look at their loan on their house, they look it at the biggest obstacle they have of being able to afford retirement.
While their rate may be low and their payments affordable, the amount of interest they will likely pay on their mortgage will surely impede their progress. Let’s do some math. If you were to close a loan for your customer with a beginning balance of $300,000, using a standard 30-year fixed at 4%, your customer would pay more than $215,000 in interest or 71% of the principal. That’s $7 and 10 cents in interest for every $10 they borrow. In fact, the amount of interest paid during the first 10 years alone is more than double that of principle. And does that sound like a good deal to you?
What I show my clients is that it’s not the rate of interest that’s important, but rather the amount of interest that is really where you should be focused. And ultimately, at the end of the day, we all want to spend as little as we possibly can in mortgage interest, and obtaining the lowest rate doesn’t necessarily get you there.
But the “All In One – Principal First Loan”, is different. It’s designed to reduce loan principal faster and save your customer tens of thousands of dollars in interest. That way, they simply have more of their own money leftover for the more important things in life.
The All In One has helped clients of mine save money by simply reducing their interest expense and giving them more cash flow from month to month to do what they need to do with their money, whether that means, make investments, or pay down other debt. All of my clients have been very happy with it.
There is a better option. The All In One loan is a better option for consumers that are simply looking to eliminate a large portion of the interest cost. As you can see, the “All In One – Principal First Loan”, or AIO could be the best loan option available in Colorado Springs. Give us a call today to let us know how we can help at 844-719-5363
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