Case Study: The HELOC Looked Cheaper on Paper. Here's Why We Didn't Recommend It.
I'm going to tell you about a case where the option we didn't recommend looked cheaper.
Why would I do that? Because that's the whole point. If we only showed you the cases where the numbers made us look good, you'd have every reason not to trust us.
The snapshot
About $213,000 left at 6.75%
Keep paying as usual: 30 years, with roughly $287,000 in interest
First-lien HELOC: about 4 years and 2 months
The path we recommended: also about 4 years and 2 months
On paper, the HELOC saved about $3,300 more in interest
So why not take the cheaper one?
Because both paths crossed the finish line on the same day. When that happens, the question isn't which number is a little lower. The question is which structure makes more sense for this family.
A first-lien HELOC works by replacing your first mortgage with a line of credit. That's a big change. The path we recommended runs a line of credit alongside the existing mortgage instead. For this borrower, that structure was the better fit, even with a slightly higher interest number on paper.
And here's the part I want you to hear: they saw both numbers. Nothing was hidden. They got the truth and made the call with their eyes open.
How the alongside approach works
A 30-year mortgage is amortized. In the early years, most of every principal-and-interest payment goes to interest. That's just how the schedule is built. The bank understands the math. You should too.
A line of credit isn't amortized. Interest is charged on the daily balance. When your income lands in that line, the balance drops the same day, and the interest drops with it. Bills come out as they come due. Then, at the right moments, a lump sum goes against the mortgage principal, and the line does the work again.
That's not "just making extra payments." It's changing how your money moves, using the income you already have.
Why we ran all three paths
Here's the thing. Most programs out there have one product, maybe two, and a short list of banks. So every family who walks in the door gets fit into that box. If all you sell is a first-lien HELOC, guess what everybody needs?
We don't work that way. Every analysis is done by a professional financial forensic analyst whose job is to tell you the truth about your mortgage, even when the truth is "keep what you have." We run the options side by side and let the numbers decide. Sometimes that's an All-In-One loan. Most of the time it isn't.
We get paid to educate and help, not to sell. That changes the conversation.
I'm just a simple man. I don't need to know how you feel about the numbers. I need to know what the numbers say, and then what makes sense for your life.
What would your numbers show?
Every mortgage is different. Rate, balance, cash flow, how far along you are. That's why we don't guess.
Run your own numbers: calculator.chrisattaway.com
Book a free 15-minute call: freedom.chrisattaway.com/15
Call or text: 386.346.2683
No pressure. We may find it isn't right for you. But if it is, you'll want to know.
Figures are from a real mortgage analysis. Names and identifying details have been removed and numbers are rounded. Results vary based on your loan terms, cash flow, and lender recast policies. Educational only, not financial, tax, or legal advice.
