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Using Your Home Equity for Other Goals Michigan

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

Able Mortgage Group
313-340-1090
18984 Livernois Ave
Detroit, MI
Amstar Mortgage Corp
313-420-0223
950 Marston St
Detroit, MI
Bretlin Home Mortgage
313-864-0963
7631 W Mcnichols RD
Detroit, MI
First Mortgage Fund
313-872-6242
2843 E Grand Blvd
Detroit, MI
Sagetips LLC
231 759 1229
2380 Estes Street
Muskegon, MI
Todd Strobel CMPS
616-464-4400
2828 Kraft Ave SE
Grand Rapids, MI
American Mortgage Centers
517-586-4030
5840 Sterling Drive
Howell, MI
American Mortgage Centers
517-586-4030
5840 Sterling Drive
Howell, MI
Infinity Mortgage
313-245-9931
11175 Balfour RD
Detroit, MI
American Nationwide Mortgage Company
231-421-3200
104 South Union Street
Traverse City, 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

Able Mortgage Group

313-340-1090
18984 Livernois Ave
Detroit, MI
Read more about Using Your Home Equity for Other Goals

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