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Using Your Home Equity for Other Goals Alabama

Your home equity is the current value of your home less what you still owe on it. For example, if your home is valued at $250,000 and your outstanding mortgage is $120,000, your equity is $130,000. The equity you have built in your home can be a valuable source of financing. You can borrow against it to pay for your child's tuition, purchase an investment portfolio, pay for large-scale home renovations, or buy an income property. In some instances, the interest may even ...

Local Companies

HomeTown Lenders - AUBURN
770-757-6481
724 N. Dean Road
Auburn, AL
Countrywide Home Loans
334-663-3902
1530 E Glenn Ave Suite E
Auburn, AL
Wells Fargo Home Mortgage
(334) 347-8858
1210 Rucker Blvd
Enterprise, AL
First Franklin Financial
(334) 347-5795
621 Boll Weevil Cir Ste 29
Enterprise, AL
ACA Financial Services
(334) 393-8492
414 S Main St
Enterprise, AL
Advance America Cash Advance
(334) 308-1973
614 Enterprise Shopping Ctr
Enterprise, AL
Magnolia Mortgage
(334) 271-7525
5748 Carmichael Pkwy
Montgomery, AL
1st South East Acceptance
(334) 393-8302
1032 Boll Weevil Cir
Enterprise, AL
Cash Cow
(334) 348-2251
1000 Rucker Blvd
Enterprise, AL
Acceptance Capital Mortgage
(251) 340-7474
800 Downtowner Blvd
Mobile, AL

Your home equity is the current value of your home less what you still owe on it. For example, if your home is valued at $250,000 and your outstanding mortgage is $120,000, your equity is $130,000.

The equity you have built in your home can be a valuable source of financing. You can borrow against it to pay for your child’s tuition, purchase an investment portfolio, pay for large-scale home renovations, or buy an income property. In some instances, the interest may even be tax-deductible.

Your tax advisor and mortgage specialist can help you decide whether it makes financial sense to tap into your home’s equity.

This article was provided by ScotiaBank. Let us help you get the upper hand on your home financing. Visit scotiabank.com/upperhand for great tips, calculators and more. Want to get more information on your home-related financing goals by email? Sign up here.

Read article at HomeRenovationGuide.com

Featured Local Company

HomeTown Lenders - AUBURN

770-757-6481
724 N. Dean Road
Auburn, AL
www.hometownauburn.net
Read more about Using Your Home Equity for Other Goals

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