How much equity do I have in my house? It’s a question that’s asked all too frequently by Canadians nationwide. Learning more about the equity you’ve built up through mortgage payments can provide many homeowners with financial options they may not have thought possible. So how do you figure out how much equity your home has? It’s easier than you think.
Start by getting your home appraised. The value of the home won’t be the same as the day you moved in, and that’s a good thing. As time goes on, property values tend to rise. Take the market value of your home and subtract any outstanding mortgage amount. The resulting number is your home’s current equity.
By making an appointment with a trustworthy financial lender, you can discover a plethora of interesting things that your home’s equity can do for you. From accessing funds for investments to consolidating debt, your home’s equity is a valuable asset that shouldn’t be overlooked when looking to make financial changes.
There’s one question that every homeowner will eventually ask
themselves. After years of making mortgage payments, everyone eventually wants
to know, "How much equity do I have in my house?” Finding the answer is simple,
and when you do, you’ll be rewarded with financial opportunities that may not
have ever crossed your mind in the past.
The best way to get an accurate assessment of the equity in your home
is to have it appraised. The value of your home minus any outstanding mortgage
amount is the equity of your home. Each mortgage payment reduces the amount
owed, and as such, increases the equity established.
Home equity can be a valuable financial tool. By using it as collateral
for loans or refinancing, interest rates are substantially lower than those
offered through various other lenders. These lower rates make accessing funds
for future investments, debt consolidation, and countless other endeavours much
Learning more about the options available, it’s
advisable to contact only the most reputable financial lenders in the industry.
They’ll be best able to guide you towards the borrowing options that best suit
your needs. Call Today. It’s a simple step that can open doors you may have
considered permanently locked.