If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity. If you’re not familiar with that term, Freddie Mac defines it like this: “. . . your home’s equity is the difference between how much your home is worth andContinue reading “Ways Your Home Equity Can Help You Reach Your Goals”
Tag Archives: home equity
Your Home Equity Can Offset Affordability Challenges
Your home equity can offset affordability challenges: Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that evenContinue reading “Your Home Equity Can Offset Affordability Challenges”
What Is Equity
“Equity” is the value you own in a property, such as a house. It’s the difference between what’s owed and what the property is worth in the current market. Read Also: Understanding Seller Disclosures Let’s say you have a house worth three hundred thousand dollars today and you owe the bank two hundred thousand dollars. YourContinue reading “What Is Equity”
What Is a Reverse Mortgage?
A reverse mortgage is a type of loan available to homeowners age 62 years are older. It’s called a reverse mortgage because the lender makes payments to the borrower with a reverse mortgage seniors can convert the equity in their homes into cash. The product was created to help people with limited income use theContinue reading “What Is a Reverse Mortgage?”
