Using Your Home Equity for Other Goals Kalamazoo MI

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

Citifinancial
(269) 342-2115
5023 W Main St
Kalamazoo, MI
Indigo Financial
(269) 329-4743
4215 W Main Lls St
Kalamazoo, MI
Trident Financial Services Llc
(269) 488-7444
313 N Burdick St
Kalamazoo, MI
American Home Mortgage
(269) 343-9620
1803 Whites Rd
Kalamazoo, MI
Preferred Title Services
(269) 384-2300
3227 S Westnedge Ave
Kalamazoo, MI
Chemical Bank
(269) 381-7960
211 E Water St
Kalamazoo, MI
Infinity Funding
(269) 552-4100
1218 S Park St
Kalamazoo, MI
Oaktree Financial
(269) 488-1568
205 E Stockbridge Ave
Kalamazoo, MI
Pacor Home Mortgage
(269) 372-3055
5400 Holiday Ter Ste A
Kalamazoo, MI
DM Bullard Mortgage Bankers
(269) 345-0603
3510 S Sprinkle Rd
Kalamazoo, MI

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

www.clickformyloan.com

269-441-9400
121 Capital Ave NE
Battle Creek, MI


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