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Using Your Home Equity for Other Goals District Heights MD

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

Academy Mortgage
(202) 396-5813
4215 Hayes St Ne
Washington, DC

D.C. Housing Finance Agency
(202) 777-1600
815 Florida Ave., NW
Washington, DC

1st Advantage Mortgage
(202) 726-9850
3551 Georgia Ave Nw
Washington, DC

1st Metropolitan Mortgage
(202) 882-5626
743 Park Rd Nw
Washington, DC

AFS Mortgage Inc
(202) 232-8434
1715 Kilbourne Pl Nw
Washington, DC

Foundation Trust Mortgage LLC
703-875-2221
1730 N Lynn St
Arlington, VA

First Washington Mortgage
(202) 625-1491
2233 Wisconsin Ave., NW
Washington, DC

1st City Mortgages Inc
(202) 722-6982
7600 Georgia Ave Nw
Washington, DC

Countryside Mortgage
703-875-8680
2111 Wilson Blvd
Arlington, VA

Heritage Mortgage
703-892-0636
2530 18th St S
Arlington, VA

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

Academy Mortgage

(202) 396-5813
4215 Hayes St Ne
Washington, DC

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