240: New 1st Lien HELOC (All-In-One Loan) with Caeli Ridge
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 13 May 2019
⏱️ 41 minutes
🧾️ Download transcript
Summary
More people are renting. The homeownership rate has declined to 64%, from 69% in 2005.
Credit score “inflation” has occurred due scoring model changes and a strong economy.
The average FICO score is now 704, a record high.
GDP in Q1 grew 3.2% year-over-year, exceeding expectations.
A new program called the Home Select Loan (All-In-One Loan) operates similar to a 1st Lien HELOC.
Ridge Lending Group President Caeli Ridge & I discuss the details:
- Line Of Credit for 30 years
- 80% LTV on home, 70-75% LTV on investment property
- No principal payments due for ten years
- Potential interest savings
- Better liquidity
- Interest rate based on LIBOR + a margin
Use the simulator to see how much interest you save vs. your current mortgage.
I bring you today’s show from Dallas, TX.
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Weinhold. The economy is booming. United States |
| 0:06.8 | GDP is up. The home ownership rate falls again, and we're seeing credit score inflation. |
| 0:13.2 | If you like the flexibility of home equity lines of credit, consider if your property's entire |
| 0:18.8 | mortgage, your first lien operated like a helock. Yes, you can do that now today on Get Rich Education. |
| 0:29.6 | MC Lobbcher is the host of the Cashflow Ninja podcast and president of producers wealth. He is on a mission to help you achieve financial independence and freedom as soon as possible. |
| 0:40.6 | He achieves this by integrating the infinite banking concept with real estate investments to increase their returns |
| 0:46.1 | and recapture cash flow that you are not even aware of that you're losing. |
| 0:51.1 | MC shares the number one strategy of investors in his holistic wealth creation |
| 0:55.0 | course at your own banking system.com. Learn the easiest way to create wealth and |
| 1:02.7 | passive income with real estate. Now you can access the best deals without the stress or hassle of |
| 1:07.6 | having to find, renovate, or manage those investment properties. Norata real estate saves you time by providing you with passive income investment properties |
| 1:14.7 | in some of the best U.S. markets. Learn more at passive real estateinvesting.com and download |
| 1:19.5 | your free copy of the ultimate guide to passive real estate investing. There's no obligation |
| 1:24.2 | and nothing to buy. Simply visit passive real estate investing.com. |
| 1:30.7 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:38.0 | This is Get Rich Education. |
| 1:43.1 | Music Education. |
| 2:01.8 | Welcome to get rich education. I'm your host, Keith Weinhold. Let's talk about some real estate and economic trends that affect you before we discuss first lien home equity lines of credit. GDP is the broadest measure of goods and services produced |
| 2:08.5 | in the U.S. economy, and it climbed at an annualized rate of 3.2% in the first quarter of this year. |
| 2:16.4 | That is way better than economists expected, and it's the strongest growth percent in the first quarter of this year. That is way better than economists expected, |
| 2:19.6 | and it's the strongest growth rate in almost four years. Now, that's skewed somewhat with how |
| 2:25.2 | they calculate the number and what's going on with imports, but still, GDP growth has accelerated |
... |
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