We have an AIO with CMG. Just wanted to say it's been such a great opportunity. Not only have we paid our mortgage down faster, but we have access to the equity for emergencies or investing.
If the AIO is used for an investment Property then is the checking account that is attached to the All in one loan a business checking account rather than a personal checking account? Also, are there any fees (e.g., annual or monthly fees, ach transaction fees, check fees, etc. associated with the account)? Does this loan report on credit reports like a HELOC or like a mortgage? If it reports like a HELOC I would imagine that my credit will take a big hit if my balance exceeds more than 30% of the limit. Thanks
Hi @troyhansen5143 These are all great questions that Mr. Walter can answer for you. I urge you to reach out to him directly. I provided his contact info in the description of the video.
I've read that you can only deduct the interest paid on a HELOC, including a HELOC on an investment property, so long as the funds were used to build, improve or repair the real estate backing the loan in some way. Does the interest deduction on this 1st position HELOC (All In One) follow that same rule? Or is all interest on that loan product tax deductible?
That’s a great question for Andre, my guest with CMG Loans. Please send me an email and I’ll make a warm email introduction. Email me at seb@theapprovedguy.com
I’d rather have cash flow and liquidity than a low interest rate and my money is trapped in the walls of my house. Everyone is different, this account lets you leverage your money and when used properly, your interest rate will end up being a lot less because your income sitting in the checking account will reduce the balance on the daily sweep.
@@theapprovedguy yes but the interest payment has gone from 1100 to 2500 interest only in one year of the interest rates going up 12x. And that's not including property taxes or mortgage insurance.
Please schedule a call with me for a discussion. There is a reason why. I can refer you to someone else if it’s urgent. calendly.com/sebastienboyer/theapprovedguy
We have an AIO with CMG. Just wanted to say it's been such a great opportunity. Not only have we paid our mortgage down faster, but we have access to the equity for emergencies or investing.
Thanks for sharing!
If the AIO is used for an investment Property then is the checking account that is attached to the All in one loan a business checking account rather than a personal checking account? Also, are there any fees (e.g., annual or monthly fees, ach transaction fees, check fees, etc. associated with the account)? Does this loan report on credit reports like a HELOC or like a mortgage? If it reports like a HELOC I would imagine that my credit will take a big hit if my balance exceeds more than 30% of the limit. Thanks
Hi @troyhansen5143 These are all great questions that Mr. Walter can answer for you. I urge you to reach out to him directly. I provided his contact info in the description of the video.
I've read that you can only deduct the interest paid on a HELOC, including a HELOC on an investment property, so long as the funds were used to build, improve or repair the real estate backing the loan in some way. Does the interest deduction on this 1st position HELOC (All In One) follow that same rule? Or is all interest on that loan product tax deductible?
That’s a great question for Andre, my guest with CMG Loans. Please send me an email and I’ll make a warm email introduction. Email me at seb@theapprovedguy.com
Can you have multiple first liens ? Like a primary and investment home ?
Yes, as long as it make sense to the lender and you can afford it.
Does CMG do cash out refis?
Please email seb@theapprovedguy.com and I’ll make an intro to a lender that does.
Is the All in one available in Texas?
Yes it is. Please feel free to schedule a call with either myself or Andre. There’s a link in the description.
Is a AIO loan amortized or simple interest?
It is not on an amortized schedule.
Can this type of HELOC be used for Commercial Property?
Unfortunately not at this time.
Can I give this Heloc account to my employer to deposit my pay directly to this account?
Yes you can. They provide a checking account that is connected to the HELOC. You provide them that checking account.
Everyone loved it until the interest rates went up 12x in the last year 2923-2024. Now the interest is 8.7
I’d rather have cash flow and liquidity than a low interest rate and my money is trapped in the walls of my house. Everyone is different, this account lets you leverage your money and when used properly, your interest rate will end up being a lot less because your income sitting in the checking account will reduce the balance on the daily sweep.
@@theapprovedguy yes but the interest payment has gone from 1100 to 2500 interest only in one year of the interest rates going up 12x. And that's not including property taxes or mortgage insurance.
I reached out to Mr Walter via text on April 29 and no answer yet. May 16
Please schedule a call with me for a discussion. There is a reason why. I can refer you to someone else if it’s urgent. calendly.com/sebastienboyer/theapprovedguy