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Real Estate Education • June 20, 2023

Your Home Equity

by Karen Juskiw

What is Home Equity?

Your home equity is the difference between your outstanding mortgage and the value of your home. For example, if your home is worth $655,000 and you have 235,000 left to pay on your mortgage, your home equity is 420,000.

Why Would you get a Home Equity Loan?

Unlock your equity to grow your real estate wealth to purchase an income-producing property. Perhaps you are looking for a cottage or recreational getaway. Or assisting your kids to get into the market. With your home equity, you may be able to borrow against it. This means you could be eligible for a Home Equity Loan. I have partnered with solid Mortgage Professionals so you can obtain the best advice for your unique circumstance to see if this is your next right move to invest in yourself.

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