Heloc with integrated sweep checking account

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Topic Author
finfire
Posts: 316
Joined: Tue Aug 14, 2018 1:52 pm

Heloc with integrated sweep checking account

Post by finfire »

Has anyone tried anything like this product : https://www.allinoneloan.com/ ?

My mortgage broker is promoting it for investment properties. It is a 30-year HELOC with an integrated sweep-checking account. Monthly interest recomputes nightly. Which supposedly can lead to the mortgage been paid off faster....I assume because people will think twice about taking cash out...

Unknown territory for me. My guess is that my broker is using this as a tool to keep people investing, with the rising interest rates slowing that industry down.

What are the upsides? downsides? Overly risky for an investment?

I have never had a heloc...
Topic Author
finfire
Posts: 316
Joined: Tue Aug 14, 2018 1:52 pm

Re: Heloc with integrated sweep checking account

Post by finfire »

anybody seen/used a product like this?
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