Using Your Home Equity for Other Goals Lexington Park 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

Cco Mortgage
(301) 862-5170
21795 N Shangri La Dr
Lexington Park, MD
Granite Harbor Mortgage
(301) 737-5664
Lexington Park, MD
Commercial Credit Bank
(301) 863-7022
22934 Three Notch Rd
Lexington Park, MD
Irene B Parrish Reality
(301) 863-7002
22188 Three Notch Rd Ste A
Lexington Park, MD
Citifinancial
(301) 863-7022
22934 Three Notch Rd
Lexington Park, MD
Ameribanc
(301) 862-3500
21945 Three Notch Rd
Lexington Park, MD
Ameribanq
(301) 870-5955
21945 Three Notch Rd
Lexington Park, MD
Jennifer M Garofalo CPA Llc
(301) 863-5055
21786 Bunker Hill Dr
Lexington Park, MD
Amerifund Mortgage Consultants Inc
(301) 858-9300
1641 State Route 3 N Ste 205
Crofton, MD
Wc & An Miller Realtors
(301) 229-0484
Bethesda, 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 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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