The Home Ownership Accelerator makes one simple change in your financial life. It combines your checking account with your home loan. So you flow all of your personal cash against your loan balance. Why is this a big deal? The money currently in your checking account earns close to nothing. In the Accelerator account, your money will "earn" your home loan rate (a much better return) because:
Your income lowers your monthly balance.
The lower balance saves you interest.
The saved interest becomes extra principal payment.
This further lowers your balance, saving more interest.
This frees up even more money to reduce principal.
This cycle repeats itself each month, compounding your interest savings
and accelerating the reduction of your debt.
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