The All-In-One Banking SolutionThe All-In-One Banking is a financing solution that enables a user access to an account management system that links a number of financial instruments together through a multi-account structure – mortgage financing, line of credit and transaction accounts. By linking different financial instruments/accounts together you have a global view of all your financial commitments. All-In-One Banking is designed to make managing your personal finances easier. Properly used it can lead to considerable savings for you. It lets you:
How does All-In-One Banking work?1. The value of your property and credit worthiness determines your total credit entitlement. It can be set as high as 95% of the value of your home or at some lesser amount. Amounts used above an 80% loan to value need to be insured by a mortgage insurer and are subject to a one time mortgage insurance premium at set up. 2. The amount of your line of credit is determined by subtracting your mortgage loan from your total/selected credit entitlement. 3. You can select a fixed or variable rate for the mortgage loan, which is repaid by fixed installments. As the mortgage portion is repaid the Line of Credit portion increases. 4. Your line of credit portion can be subdivided into sub-accounts to account for different projects such as savings day-to-day living expenses RRSP contributions and more. You can have as many accounts as you wish. With a single statement and Internet banking you can see all your commitments at a glance. 5. All deposits (pay checks, commissions, bonuses, or rental income) made to your All-In-One account reduces the amount you’ve borrowed and that means you reduce you’re interest payments. What are the benefits to you as an All-In-One user?
1. All-In-One Banking generates savings because it meets all your financing needs in a single solution at a single rate of interest applied to all your account balances. 2. An immediate decrease in borrowed amounts and interest charges when you deposit funds (pay checks, bonus, pensions, family benefits etc.) in a debit account. 3. Many free banking services. 4. Flexible repayment conditions, 5. One minimum payment for your All-In-One account. 6. Fast access to funds by:
Sharlyn Rattai, Mortgage Associate @:
Email: Sharlyn Rattai
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