Do you know how much equity you have in your current home?
Your equity is the difference between your current mortgage balance and the price your home would sell for in today’s market. Over the years you gain equity as you pay down your mortgage and home values rise. According to CoreLogic, the average homeowner has $298,000 in equity.
Do you know how to use your equity to fund your next home?
Did you know the equity you have in your current house can help make your move possible?
Once you sell, you can use it for a larger down payment on your next home, so you’re borrowing less. Or, you may even have enough to be an all-cash buyer. One huge benefit to making a large down payment is that if you can pay more than 20% your lender won’t require you to buy private mortgage insurance. That could be a savings of several hundred dollars a month depending on your mortgage size.
Let’s find out how much equity you have in your current house?
The typical homeowner has $298,000 in equity. If you want to find out how much you have, let’s connect for a Professional Equity Assessment Report.
