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Equity Awareness
You might have more money in your home than you think
If you've owned your home for a few years, chances are good you've built equity—the difference between what your home is worth and what you still owe on your mortgage. As you make payments, that number grows. Some borrowers are surprised to learn how much equity they've accumulated, especially if their home's value has appreciated in their area. Why does this matter? Equity can be a financial tool. You might tap into it for a major expense, a home improvement, or to refinance into better loan terms. But first, you need to know what you have. If you'd like to get a realistic picture of your current equity position and what options might be available to you, I'd be happy to walk through the numbers.
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