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Using Your Home Equity for Other Goals Portsmouth VA

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

Alcova Mortgage
(757) 457-9617
900 Granby St
Norfolk, VA

Laureate Capital Mortgage
(757) 625-8181
999 Waterside Dr
Norfolk, VA

Southern Trust Mortgage Corporate
(757) 518-0700
150 Boush St
Norfolk, VA

Sunset Mortgage Co
(757) 625-6300
142 W York St
Norfolk, VA

Elizabeth River Mortgage
(757) 965-5155
701 W 21st St
Norfolk, VA

Cornestone Home Mortgage
(757) 410-3018
400 N Center Dr
Norfolk, VA

Union Mortgage Group
(757) 461-0400
6330 Newtown RD
Norfolk, VA

Resource Mortgage Wholesale
(757) 461-0294
20 Koger Executive Ctr
Norfolk, VA

1st Century Mortgage
757-463-7982
870 Greenbrier Cir
Chesapeake, VA

Advance Mortgage
757-366-8900
860 Greenbrier Cir
Chesapeake, VA

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

Alcova Mortgage

(757) 457-9617
900 Granby St
Norfolk, VA

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