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Using Your Home Equity for Other Goals Staunton 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

Mortgage Sense
(540) 213-1920
12 Sunset Blvd
Staunton, VA
Planters Bank & Trust Company of Virginia
(540) 885-1232
Staunton, VA
Columbia National
(540) 886-4613
1600 N Coalter St
Staunton, VA
American Home Mortgage
(540) 886-4613
1600 N Coalter St Ste 15
Staunton, VA
Community Bank
(540) 337-1514
2658 Stuarts Draft Way
Staunton, VA
Wells Fargo Home Mortgage
(540) 885-9933
427 Lee Jackson Hwy
Staunton, VA
Gold Key Mortgage
(540) 886-8161
713 N Augusta St
Staunton, VA
Moorhead Mortgage Solutions Inc
(540) 886-6611
355 Sherwood Ave
Staunton, VA
Federal Land Bank Assn
(434) 432-4641
29 Military Dr
Chatham, VA
Lexington Mortgage Company
(703) 790-8600
8614 Westwood Center Dr Ste 620
Vienna, 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

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