Using Your Home Equity for Other Goals East Orange NJ

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

Atlantic Federal Mortgage Group Lec
(973) 530-4069
90 Bergen St
Newark, NJ
First Residential Mortgage
(973) 350-7776
1 Bloomfield Ave
Newark, NJ
Ace Mortgage Brokerage Inc
(973) 424-9400
877 Broad St
Newark, NJ
Charter Mortgage Bank
(973) 353-6216
1 Gateway Ctr
Newark, NJ
Wells Fargo Home Mortgage
(973) 273-1689
744 Broad St
Newark, NJ
Countrywide Home Loans
(973) 642-0232
60 Park Pl
Newark, NJ
American Dream Mortgage Bankers Inc
(973) 242-4888
17 Academy St
Newark, NJ
Mortgage First Direct
973-763-4000 ex 24
1923 Springfield Ave
Maplewood, NJ
A Plus Mortgage
(973) 991-3400
374 Chestnut St
Newark, NJ
American Fidelity Mortgage
(973) 741-6400
180 Ferry St
Newark, NJ

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

Atlantic Federal Mortgage Group Lec

(973) 530-4069
90 Bergen St
Newark, NJ

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