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Using Your Home Equity for Other Goals Maryland

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

BASK Properties
717-830-2767
240 South Potomac St
Hagerstown, MD
Family First Mortgage Group LLC
410-793-1192
3525 H Ellicott Mills Dr.
Ellicott City, MD
SunTrust Mortgage
410-308-6000
1966 Greenspring Dr
Timonium, MD
Baltimore HUD Homes
(443) 866-8699
1953 Laurel Oak Dr
Baltimore, MD
Mortgage Network Solutions
888.667.5369
408 Main Street, Suite 3
Reisterstown, MD
Sentinel Home Mortgage
410-719-0093
2200 Baltimore Blvd
Catonsville, MD
My Home Discount Llc
(410) 451-3283
2140 Priest Bridge Ct
Crofton, MD
M & T Bank
(410) 836-5754
12 Office St
Bel Air, MD
Approval One Mortgage
(301) 253-0582
9888 Main St
Damascus, MD
Wells Fargo Mortgage
(410) 770-3577
111 E Dover St
Easton, 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

BASK Properties

717-830-2767
240 South Potomac St
Hagerstown, MD
http://www.BASKProperties.com
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Related Local Event
Free Introductury Real Estate Investing Class
Dates: 6/30/2009 - 6/30/2009
Location: Investors United School of Real Estate
Baltimore, MD
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