Using Your Home Equity for Other Goals Fargo ND

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 ...

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Charter West Mortgage
(701) 795-4800
3325 Washington St S
Fargo, ND
First International Bank & Trust
(701) 232-1700
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Fm Mortgage Corporation
(701) 234-9000
801 10th St S Ste 100
Fargo, ND
First International Bank & Trust
(701) 277-8558
4501 40th Ave S
Fargo, ND
Alerus Mortgage Solutions
(701) 280-5078
Fargo, ND
Gate City Bank
(701) 271-2600
2501 Broadway N
Fargo, ND
Gate City Bank
(701) 293-2525
4151 45th St S Ste B
Fargo, ND
Alerus Financial
(701) 280-5167
Fargo, ND
Strategic Mortgage Solutions
(218) 227-1010
Fargo, ND
Green Acres Mortgage
(701) 293-7575
3332 4th Ave S Ste 2B
Fargo, ND

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

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