All In One Loan (AIO): Introduction and 2023 Update

All In One Loan is one of the most innovative loan products available. This is a deep dive into the AIO. 2023 Update go to 37:32

Access the All In One Loan Simulator - https://www.allinonemortgage.com/loan...

AIO Playlist:    • All-In-One Loan  

What is the All-In-One Loan (AIO)?
The All In One Loan is a 30-year, first lien home equity line of credit (HELOC) with a 30-year draw period and an integrated zero-balance sweep-checking account. It provides borrowers the opportunity to more effectively use their income dollars to drive down their principal balance faster and significantly lower their monthly and lifetime interest payment expense, while keeping their funds securely liquid for regular spending needs. It can be used to finance 1-to-4 unit residential properties through a home purchase or mortgage refinance and is available for primary residences, second homes and investment properties.

How does it work?
Deposits made into the integrated checking account lower loan principal through a feature known as "sweep" which credits the funds to the HELOC balance automatically. In other words, deposited money lowers the mortgage balance by the same amount. That money remains securely available 24/7 for bills and expenses, the same way all other common checking accounts do. But prior to being spent, they are used by the All In One Loan to lower monthly interest payment expense. Interest is computed nightly on the lower principal balance, then totaled once the month ends. That becomes the interest payment which is drafted automatically from the HELOC on the 21st of the following month. If the 21st falls on a weekend or holiday, the interest payment is drafted the next business day. Through regular monthly banking activity, the principal balance and interest expense can lower much faster than a traditional mortgage.

My name is Miles Pitcher, and I am a Mortgage Broker and owner of Superior Lending Associates, L.C. located in Orem, Utah. This channel is about financial education related to mortgage loans to help teach families how to buy a house in any housing market and build wealth with real estate.

I talk about mortgage rates and discuss general finance and real estate market news that moves interest rates that can affect you as a home buyer or seller. I help to show the home loan process so that any first time home buyer or experienced home buyer can learn more about purchase and refinance mortgages.

Need a mortgage or want to talk more about your family's goals?
Use these steps to contact me:

1 - 📅 Email - miles@superiorlending.net
2 - 🌐 Apply Online - http://bit.ly/easyloanapp
3 - 📞 Call/Text - 385-250-1411

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