Using Your Home Equity for Other Goals Lynn MA

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

New FED Mortgage Corp
781-241-1225
1711 Broadway
Saugus, MA
New FED Mortgage Corp
781-241-1225
1711 Broadway
Saugus, MA
First Eagle Mortgage
978-777-7767
44 Maple Street
Danvers, MA
Coast To Coast Mortgage, Inc.
888-282-6700
12 Alfred Street Suite 320
Woburn, MA
Pioneer Financial Group
(617)8686300
1972 Massachusetts Avenue
Cambridge, MA
CASCAP
(617)4925559
678 Massachusetts Avenue 10th Floor
Cambridge, MA
Leader Mortgage Company, Inc.
(781)6487900
180 Massachusetts Avenue
Arlington, MA
Your Home for Life
(800)6906646
642 Huron Avenue
Cambridge, MA
American Mortgage Resource, Inc.
(617)9728588
62 Mount Auburn Street
Watertown, MA
Omnify Software
978-988-3800
10 New England Business Center Drive
Andover, MA

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

New FED Mortgage Corp

781-241-1225
1711 Broadway
Saugus, MA
www.newfed.com

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