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Using Your Home Equity for Other Goals Virginia

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

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

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

American Home Mortgage
757-361-3888
860 Greenbrier Cir
Chesapeake, VA

Premier Mortgage Capital
757-842-6871
445 N. Battlefield Blvd Ste E
Chesapeake, VA

Pineapple Lending Corp
703-547-1451
1801 Reston Parkway
Reston, VA

MetLife Home
(757) 651-0581
1305 Executive Blvd. Ste. 100
Chesapeake, VA

Countryside Mortgage
703-875-8680
2111 Wilson Blvd
Arlington, VA

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

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

American Nationwide Mortgage
540-437-0505
70 East Mosby Road
Harrisonburg, 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

Elizabeth River Mortgage

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

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