Equity Can Make Your Move Possible When Affordability Is Tight [INFOGRAPHIC]

Some Highlights

• Equity Can Make Your Move Possible When Affordability Is Tight . 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.
• The typical homeowner has $298,000 in equity. If you want to find out how much you have, connect with a local real estate agent for a Professional Equity Assessment Report.

Absolutely, using the equity in your current home can be a smart strategy to facilitate your move to a new property. By tapping into the equity you’ve built up, you can access a sizable down payment for your next home, potentially allowing you to borrow less and secure a lower monthly mortgage payment.

By getting a professional equity assessment, you can determine exactly how much equity you have available and explore your options, such as a home equity loan, HELOC, or cash-out refinance, to leverage that equity.

This approach can give you more flexibility and purchasing power when it comes to finding your next dream home, whether you’re looking to upsize, downsize, or invest in a second property. Just be sure to carefully weigh the pros and cons to ensure it aligns with your long-term financial goals.