March 22, 2016 by Rebecca Crommelin
What is equity?
Firstly, home equity is the difference between your property's market value and the current balance of your mortgage. If you have owned your property for a few years, it's likely you will have some equity built up in your home. Along with the rising property values in recent years, which has given many home owners increased levels of home equity.
Many home owners are unaware that their home equity can be put to good use as a low cost source of funds to help them achieve their goals, such as purchasing a new car, upgrading from your current home, renovating your home, or to build your wealth by purchasing an investment property.
Have you been considering building your wealth through property investment - but are a little short of money? Or have you been wanting to renovate your home but don't have the money to spare? When you access the equity that you have built up in your home, you could free up some money to spend on other things.
How to access your home equity
At Mortgage Choice Joondalup & Clarkson, our team of brokers can let you know how much equity you have in your home, and how you can access it to start achieving your goals. Whether it's purchasing a new car, upgrading your current home or buying an investment property - our team can walk you through your equity options and see if it's right for you. Call us today on (08) 9485 0090 to unlock your equity today.
It's important to note that your home is not your only source of equity. If you currently own an investment property, you can also use the equity built up in this property, to help finance the purchase of another investment property - so you can continue to build your investment portfolio and personal wealth.
Call our team at Mortgage Choice Joondalup & Clarkson today on (08) 9485 0090 - to find out more about accessing your equity, so you can start making your goals a reality.
Dennis Aplin, Your Local Mortgage Broker
dennis.aplin@mortgagechoice.com.au
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