Equity Opportunity
Your home is likely one of the biggest wealth-builder's you've got!
Well, your home just hit an equity milestone! Once your home equity exceeds 30% you have more opportunities available to you. Opportunities come in many forms, but in my opinion, it is all about one thing…
FREEDOM
WHAT IS EQUITY?
Equity is the difference between what you owe on your home and the value of your home.
In my book, The Point of Money, I explain that freedom is the ultimate goal. But freedom means different things to different people. For some it could be reducing their monthly payment obligations. For others it might be expanding their investment portfolio with a rental property. Others may want the freedom to travel to a favorite destination by purchasing a second home. Your equity may help you to achieve these types of goals.
I’ve personally leveraged home ownership many times to increase my wealth and I’d like to help you do the same.
With an equity position of 30% or more you can likely sell and buy a home without any additional out of pocket expense, while avoiding monthly mortgage insurance on your next home. Some of our clients elect to put less down and use the sale proceeds to pay off debt improving their monthly cashflow, all while enjoying their new home.
Your equity position may also provide flexibility to get cash out. You could use that cash to consolidate debt and lower your monthly payments overall or maybe buy that vacation home or rental property. The point is that your equity gives you options.
If you would like to explore your options to maximize your equity position in a way that sets you up for long term financial success we would love to help. As always, there is never any pressure or obligation. The information is free.