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Using Your Home Equity for Other Goals Minnesota

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

Acme Mortgage Corp
(763) 566-1669
5701 Shingle Creek Pkwy
Minneapolis, MN

Wells Fargo Home Mortgage - Bloomington
(612) 316-2952
7900 Xerxes Ave. S.
Bloomington, MN

MFG Mortgage Services
(612) 766-9000
901 Marquette Ave. S., Ste. 2680
Minneapolis, MN

Wells Fargo Home Mortgage - Minneapolis
(612) 752-5761
733 Marquette Ave., Ste. 203
Minneapolis, MN

Advisors Mortgage
952-484-8875
2121 Cliff Drive
Eagan, MN

1st Metropolitan Mortgage
651-770-2033
2399 Ariel St N
St. Paul, MN

M&I Bank
612-798-3339
6625 Lyndale Av. S.
Minneapolis, MN

Kraus-Anderson Mortgage Company
(612) 332-7281
523 South Eighth St.
Minneapolis, MN

Advisor Mortgage Services LLC
(612) 378-7016
43 Main St SE
Minneapolis, MN

Amcap Mortgage & Financial Inc
651-747-1420
6993 35th St N
St. Paul, MN

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

Acme Mortgage Corp

(763) 566-1669
5701 Shingle Creek Pkwy
Minneapolis, MN

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Environmental	Home Electronics	Pets	World History