Understanding Home Equity and How to Use It in 2024
Posted by Shawn Clayton on
Home equity is a powerful financial tool that can provide homeowners with significant benefits. As real estate values fluctuate and financial needs evolve, understanding how to leverage home equity effectively in 2024 is essential. Whether you're looking to consolidate debt, finance home improvements, or invest in other opportunities, knowing the ins and outs of home equity can help you make informed decisions. Here’s a comprehensive guide to understanding home equity and how to use it this year.
What is Home Equity?
Home equity is the difference between the current market value of your home and the outstanding balance on your mortgage. For example, if your home is worth $400,000 and you owe $250,000 on your mortgage, your home equity is $150,000.…80 Views, 0 Comments