A. The Money Merge Account is an online account system that incorporates your checking and savings accounts with an advanced line of credit, or ALOC. Through this program, homeowners have the ability to pay off their 30-year mortgage in as little as one-third of the time, without refinancing their existing mortgage loan or increasing minimum monthly payments. You also do not need to have any equity in your home to qualify for an MMA.

A. Simply put, the mathematics behind MMA presents a sophisticated process that has a substantial financial benefit over just simply making extra principal payments to your primary mortgage. The algorithms in the proprietary MMA system are systematically programmed to create the highest interest savings possible in the least amount of time. The math engines programmed in the MMA system calculate the specific timing and dollar amounts required to produce the most optimum savings possible in any given financial situation.

A. The MMA system makes a connection between your bank account, the advanced line of credit and your primary mortgage. Each time you transfer income into your account it registers as a decrease to your mortgage balance. By decreasing your mortgage balance, you now lower the balance in which interest accrues. By decreasing the balance in which interest accrues, more of your monthly mortgage payment can now go towards reducing the principal rather than paying interest due to re-amortization. The MMA system determines the specific timing and amounts for each transfer required to produce the quickest pay off time and highest interest savings possible. There are also multiple financial options programmed into the MMA software, which assist homeowners in paying down their mortgage as soon as possible.

A. The MMA program follows your mortgage until it is paid off. The line of credit the MMA uses will have no effect on your ability to sell your home. Once you have sold your home and purchased another residence, we can put MMA back into action on the new residence. Also, all the equity built in the account, as well as the equity built with market appreciation, will make a great down payment on the next purchase.

A. The MMA Program uses an advanced line of credit solely as a vehicle or a tool to drive the program. The MMA system is coordinated through systems created by United First Financial and works completely independent of the lender. United First Financial is not a lender but simply a software company. Most of our clients are able to obtain a free, no-cost line of credit from their local bank or lender. The advanced line of credit must have the capacity to operate similar to a primary checking account and be set up with an open-end interest calculation vs. a closed-end interest calculation. Combined with the MMA web-based system, this creates a formula in which the money in your line of credit account generates an interest cancellation on your primary mortgage.