After getting married to my wife last year, we knew it was time for us to take the next big step in our relationship by upgrading our home. We previously had a 3.6% APR 30 year mortgage but were using the Velocity Banking strategy to get ahead on our balance.
Well, I had been using the velocity banking strategy for almost 2 years before coming across the First Lien HELOC concept, so I honestly didn’t feel like this was that foreign to me. The strategy you guys are teaching is really just the next iteration of velocity banking, so when I read your 101 guide and used your calculator – I realized pretty quickly that this was the way we needed to go.
In our first 12 months, we paid down 26.7% of our total loan, which was about 10x faster than you would generally pace with a 30 year mortgage. I knew that this was all theoretically possible after reading several articles and watching some youtube videos online, but to actually see it with my wife during our monthly budget meetings, well, you can say I am impressed.
We love our First Lien HELOC. We tell all of our friends and church members about it and gotten a bit of a reputation for being “Financial Gurus” in our social circle.
Make the jump. If you are committed to being debt free and can be disciplined in your spending, a First Lien HELOC will work its magic on your financial life and leave you wondering why you didn’t come across this sooner.