If the value of your home is currently greater than your current mortgage balance, it means you have equity in your home.
Do you realize your home equity can be one of your greatest financial resources?
It’s true that as you pay down your mortgage, you build equity. But as your home appreciates in value, it also helps you build equity without having to lift a finger. This equity becomes a valuable asset you can leverage to help you meet other financial needs. In other words, you could be sitting on a pile of cash!
Cash Out Your Equity, Meet Your Goals!
Saving up enough money to meet your financial goals can take years. By refinancing your home today, you can cash out your equity and use it for whatever you need, while taking advantage of today’s low interest rates.
Whether you want to pay off debt, pay college tuition, or renovate your home, leverage the equity in your home to help you meet your financial goals.
With rates being so low, and the amount of equity you have built up, it’s hard to just sit back and not take advantage of the market. You have options:
How likely are you to recoup the money you invest in your renovation if/when you decide to sell?
Although you’re making the decision to renovate to your style, it’s a great idea to consider the renovations that will bring you the biggest return on your investment. Remember, not all remodeling projects are created equally and just because a project is expensive, doesn’t mean it will pay back more.
Use this guide to help you decide:
When you’re ready to explore your home renovation financing options, let us know. And if you decide that home renovations seem to be too much hassle and are thinking of buying a new home, we can help with that too!