Name: Altgage PrePay
Rating: 5.0 (2 reviews)

Mortgages pay interest first; that's good for banks but unfair to people. Altgage PrePay optimizes extra payments to principal. Prepayments automatically decrease each month as tax-free savings compound. Keep track of rates so you can refinance when the time is right. Easily access home equity, all from one place.

Hi I'm Sukesh - founder, immigrant 🇮🇳 Notre Dame grad. former chemist and dad of two! I believe in the American dream of homeownership, but mortgages aren't affordable today. Payments last forever and mostly pay interest. That's great for banks but not fair to homeowners. Every move or refinance restarts the trap of amortization. If you're not careful, mortgages can last 50+ years. 10 million retirees are still paying for a mortgage. Altgage helps homeowners make smart mortgage moves to build more wealth! Our core feature is Prepayment, i.e., paying a little extra toward the principal. Prepaying is safe 🔒 without penalty after Dodd-Frank and results in tax-free savings that compound for multiple decades. So what's new here? Can't you just pay $200 extra per month at your bank? 💸 Paying the same amount each month isn't ideal because of the time value of money. Earlier payments are worth 5-10x more, so our payment schedule is front-loaded, declines gradually, and stops after ~10yrs. Our payments algorithm considers your rate, mortgage balance, and remaining term to maintain an equal payback schedule. You'll repay the loan fairly e.g., 10% repaid in 3yrs, instead of 6-7yrs. Other features include 📉 Rate tracking for a timely refinance - The avg. homeowner is 9 months late if they refinance at all 🏠 Easy access to Home Equity - As a recession looms, homes can provide more than shelter. The equity in your home can act as a safety net. Track equity and get access to our low-cost lender network Setup takes 2 minutes - answer security questions and your mortgage will automatically connect - look at prepayment recommendations specific to your loan - automate extra payments within our platform by linking your bank securely with Plaid The platform is free to access, track market rates, and home equity. Homeowners are only charged to automate prepayments ($9/m for an avg. prepayment of $300). All fees are used for platform operations and development We are looking for current or soon-to-be homeowners in the US. All feedback is welcome!

@mortgagehomey That sounds like a wonderful way to save some serious cash on mortgage. Congrats on the launch!

@mortgagehomey this is the start of something big!

@stephen_freudenberg thanks friend. Hoping to partner with you very soon to make inroads into afford able transactions and more!!

@gladys_atienza do you have a mortgage or planning to get one? Would be glad or help!!!

@mortgagehomey Hi Sukesh, that sounds like an amazing journey you have been on! It's really inspiring to hear about your commitment to helping homeowners build wealth through Altgage.