Using Your Home Equity for Other Goals 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 ...

Local Companies

VanDyk Reverse Mortgage Company
231-941-1776
859 Robinwood
Traverse City, MI
American Nationwide Mortgage Company
231-421-3200
104 South Union Street
Traverse City, MI
National City Mortgage
(231) 935-1314
901 S Garfield Ave
Traverse City, MI
Huntington Mortgage Group
(231) 922-5858
415 Munson Ave Ste 101
Traverse City, MI
Giroux Dan
(231) 932-9300
13056 S West Bay Shore Dr
Traverse City, MI
First Preferred Mortgage Co
(231) 922-0310
423 E 8th St
Traverse City, MI
Countrywide Home Loans
(231) 933-1252
522 E Front St
Traverse City, MI
Assurafirst Financial Co
(231) 933-4700
1111 E 8th St
Traverse City, MI
Fifth Third Bank
(231) 995-4520
102 W Front St
Traverse City, MI
First Metropolitan Mortgage Company
(231) 932-5400
120 Boardman Ave
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

VanDyk Reverse Mortgage Company

231-941-1776
859 Robinwood
Traverse City, MI


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