Using Your Home Equity as a Bank

— Slide 3: Your BLOC Has Become a Great Tool —
Making Multiple Payments to Payoff Your Mortgage

Now Let's Take This a Step Further

If you were to use your BLOC to make consecutive lump-sum payments of $5,000 every 4th month until your mortgage was paid off, you would see the approximate results as follows:

Please Note: these numbers are assumptions based on discretionary income remaining fixed. A true life example may show more or less discretionary income. The numbers may be different depending on your individual circumstance.
Mortgage Loan Rate Term
$300,000 6.00% 360 Months
Monthly Payment (no lump-sum payments): $1,798.65
Total Interest to be Paid after 360 months: $347,514
Mortgage Paid Off: 30 years
Interest Paid after making lump-sum payments: $164,445
Interest Savings (approximately): $183,069
Mortgage Paid Off: 14.1 years
Download this spreadsheet to run your own numbers.

— FREE Download (MS Excel Worksheet)

If you have MS Excel - or other type program - use this amortization schedule to analyze your own payment and payoff numbers.

Need More Information

We have a complete demonstration on how you can payoff your mortgage loan FAST using your HELOC.

The demonstration Includes a review of an online system that can help manage and project your payoff amounts

click here for the presentation

 

Download this spreadsheet to run your own numbers.

— FREE Download (MS Excel Worksheet)

If you have MS Excel - or other type program - use this amortization schedule to analyze your own payment and payoff numbers.
 

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