Patent ID: 8078526
Filing Date: 2011-12-13
Classification: G06Q

Abstract:
1. A method for providing a principal-first home mortgage loan comprising: qualifying a borrower for a principal-first home mortgage loan; processing, by a computing device processor, the principal-first home mortgage loan, wherein processing includes at least one of charging the borrower a one-time up-front fee or charging the borrower an above-market interest rate; applying, by a computing device processor, an entire amount of each payment received from the borrower for the principal-first home mortgage loan to a principal of the principal-first home mortgage loan during a defined time period, such that a total amount applied to the principle during the defined time period is less than a total principle-first home mortgage loan amount; automatically, re-amortizing, by a computing device processor, the principal-first home mortgage loan at a remaining loan principal balance and a remaining loan term after the defined time period; and applying, by a computing device processor, each payment from the borrower received after the defined time period to the principal-first home mortgage loan in accordance with the re-amortization, wherein the principal-first home mortgage loan does not accrue interest during the defined time period and wherein a first required per period payment amount received during the defined time period does not exceed a second required per period payment amount, wherein the second required per period payment amount is a payment amount the borrower would pay if the borrower was making principal and interest payments on the loan during the defined time period.