The balance decreases on a traditional mortgage when you make a monthly payment. Whenever deposits are made into the checking account linked to the ATM loan, the loan balance decreases as interest is calculated daily. Because the mortgage is a first lien HELOC, you also get 24/7 access to your available equity, up to the amount of the line of credit through the checking account linked to your loan.
Not Your Average Mortgage
Meet The ATM Loan
The ATM Loan—short for Access Total Mortgage—brings your mortgage, checking, and Home Equity Line of Credit (“HELOC”) together into one powerful account. Your deposits automatically go to work lowering your balance, which can help you save on interest and pay off your home faster.
What’s The ATM Loan?
The Access Total Mortgage (we call it the ATM loan for short) is your primary mortgage—a first lien HELOC and comes with a checking account. This loan offers you one smart, flexible account. Every dollar you deposit remains in your checking account, and is transferred to your loan account nightly. Plus, you have access to your available equity up to the maximum credit limit if you need it.
How It Works
Your cash doesn’t just sit there—it works for you. See how the ATM Loan helps you pay down your balance faster while keeping your money accessible.
Make Deposits
Your deposits go straight into your linked account. The deposits made into your linked checking account, that remain in your checking account, are transferred nightly and applied to your mortgage loan account, reducing the balance and can lower the amount of interest you pay.
Watch interest shrink
Because interest is calculated daily, the more you keep in your account, the less you pay over time—helping you pay off your home faster and save on interest.
Access funds anytime
Need your cash? It’s always available, up to your credit limit. Access funds easily through debit, online bill pay, or mobile banking—just like a traditional checking account.
See the difference for yourself
Curious how much faster you could pay off your home—or how much you could save in interest—with an ATM Loan? Use our comparison tool to find out.
Ready to take control of your mortgage?
Let’s see if the ATM Loan is right for you. Fill out the form and a Primis Mortgage specialist will be in touch to walk you through your options. No obligation, just clarity.
FAQs
Yes! The Access Total Mortgage Loan is a great option for homeowners looking to refinance. You can use it to replace your current mortgage and instantly start taking advantage of its built-in flexibility—using deposits to reduce your balance and interest costs without locking up your cash.
No. You can keep what you have plus you get another checking account that is linked to the loan. Deposits into the checking account are required to pay the minimum amount due each month. One of the benefits of this loan is that deposits that remain in the linked checking account each night are transferred to the mortgage loan account and the balance of the loan goes down. If you have positive cash flow every month, the more deposited funds that transfer nightly, the quicker you pay down the balance on your loan. Thus, if you made the checking account linked to your ATM loan your primary account, it may provide the greatest benefit.
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Anyone can apply who meets the product and credit guidelines. Please contact a mortgage specialist to get more information and see if this product is right for you.
The Nitty Gritty:
Primis Mortgage Company (“Primis Mortgage”) is a subsidiary of Primis Bank, a Member FDIC. Primis Mortgage NMLS #1894879 | AL #23183 | BK #1042893 | ML #1894879 | #41DBO-166162 Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act (www.nmlsconsumeraccess.org). For additional licensing information click here. As always, all loans are subject to credit approval and product guidelines. Other terms and conditions may apply.