The Mortgage Curmudgeon looks at these so called “Home Ownership Accelerator” loans.
[This type of loan] is overhyped as an early payoff tool, because the prospect of paying off early captures people’s attention. However, while the intra-monthly interest savings described earlier are real, they don’t add up to much. To pay off a 30-year loan in 10 or 15 years requires extra payments, and you don’t need HOA to make extra payments.