Velocity Banking In Simple Terms - Amortization Schedules

 
 

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[kylecooper]

I’ve worked in mortgage for a number of years. If you get a mortgage through a local bank, or if they service your loan directly, then the interest goes directly to that institution. If you went through another lender, your mortgage is sold after closing and purchased by a loan servicer. Investors buy these because the debt market is very lucrative

[fhhfgj]

Christy you are a Saint! Thank you for this, I am going to use your tactics to pay off my properties and cars so fast the bank will cry!!!

[barrybegley]

Christy: I wonder if showing a printout of an Amortization schedule might be helpful to your students understanding just how the extra interest fees are skipped over when a bulk payment is made. Visualization of the concept would be greatly magnified, perhaps. The Velocity Banking approach is a real game changer. Kudos for all the great work that you share with the viewer. Thanks and greetings from Ontario, Canada.

[joihnlecouteur]

wow, great video. Knocking off $46k in interest using $6k !!!

[harrymyhero]

This was a GREAT example. My mortgage is only 2.75 percent. My equity loan is 9.13 percent. I plan on paying off the equity loan first.

[RepublicanClooney]

Remember watching when you had 44k Subscribers! Happy New Yea!

[billyray]

Hi Christy! Been a fan of your channel lately. I got a heloc and been following your strategies and things has been awesome. Now I have a question. I want to upgrade to a bigger home then im currently in. I was wondering what is better. Mortgage payment and doing the chunking method or buy the new home with a first lien heloc? I’m not sure which banking tool would save me the most on interest.

[tinabevins]

Thank you Christy! God bless you. Im trying the strategy but things are really tight.

[jessicaortiz]

Christy u rock! Just got a home first mortgage payment is feb what do u suggest (a line of credit )Hloc ir ploc?

[davidjaime]

Hi Christy that makes sense now no wonder my interest is still very high on my car even at 5.9% paying a few hundred over or paying before due date. Nothing helps they're still getting a big chunk with the amortized schedule. What would you suggest to chunk? My balance is only 19g. Thanks for your advice

[LindaGorman]

I'm so excited to get a heloc, am working on it now. My question is...would it be a good idea to put $1000 per month toward the principal? My thinking is that if your income is going into that heloc, would it be feasible to do that smaller amount every month, instead of a larger amount every 6 months?

Linda

[mardelascott]

Question 🙋‍♀️, do you recommend a credit repair company to help you fix your credit?

[joeblow]

I wondered if a fixed is better than a variable what way would you advise or how would you do it

[karenwellington]

HELLO 👋, when you send the payment in, does the "6000." Need to be a separate check marked "principal only"???

[joeblow]

I'm applying for a HELOC a fixed are variable the variable that they're offering me is at 7.99%

[deborahsimpson]

So, when would this person need to make another chunk payment? April 2026? Anytime they can?

[joeblow]

It seems like what to fixed HELOC it's a big chunk to pay per month but I could do it but I still have all the other bills you know food water power all that stuff and then I have to take on my insurance for the car I mean for the house and the taxes right myself which I would take out of the HELOC but I just want to know which one would be better fixed or?

[Icburg]

Is it me or is my math wrong? 300k - 6k should be 294k, yes? I’m just giving you a hard time. Your points are all valid and it makes sense! 😘

[idalysantamaria]

⁠so this person has a Cashflow of $500 every month, do they save the $500 and once they have a good chunk saved, pay that chunk? What if the person has a credit card cash transfer option but the fee is 5% of the amount they pull out. So say they pull out $6000 from their credit card but the bank charges 6% and 0% apr for a whole year …Would that make sense go that route ?

[joeblow]

I have no credit card debt I have $7, 000 income a month and paying out $2, 900 $2, 050 of that is my want to get a HELOC to pay it