4 Ways to Access Your Home Equity 💰🏡
Your home equity is one of your greatest financial assets—but it’s often overlooked when building a solid financial plan. If you’d like to access the equity you’ve built over the years without selling your home, you have options!
đź“Š What is Home Equity?
It’s the difference between your home’s market value and what you still owe on your mortgage.
For example: If your home is worth $650,000 and you owe $150,000, you’ve got $500,000 in equity.
Here are 4 ways to tap into that equity:
Conventional Mortgage Refinance – Replace your current mortgage with a new one and take out some of the equity in cash.
Reverse Mortgage – For homeowners aged 55+, this allows you to access equity without monthly payments.
Home Equity Line of Credit (HELOC) – A flexible credit line secured against your home that you can draw from as needed.
Second Position Mortgage – A secondary loan on your home, ideal for short-term financing needs.
💬 If you’re considering using your home equity to free up some cash, let’s chat. Together, we’ll find the best option for your financial goals.
📲 Visit my site to connect directly.
https://www.dianebuchanan.ca/
