Do you realize your home equity can be one of your greatest financial resources?
It’s true that as you pay down your mortgage, you build equity (the amount of your home you actually own). But as your home appreciates in value each year, it also helps you build equity without having to lift a finger. This equity becomes a valuable asset you can leverage to help you meet other financial needs.
The Power of Appreciation
National home values have been rising steadily for the past decade, according to the Federal Housing Finance Agency’s (FHFA) House Price Index (HPI). Between Q2 2020 and Q2 2021, house prices rose a whopping 17.4% across the country.
The chart below shows how the home price index has risen over the past 10 years. Based on appreciation alone, there’s a good chance that you may have equity to tap into.
In other words, you could be sitting on a pile of cash.
Cash Out Your Equity; Meet Your Goals
Saving up enough money to meet your financial goals can take years. By refinancing your home, you can cash out your equity and use it for whatever you need, while taking advantage of today’s historically low interest rates.
Whether you want to pay off debt, cover tuition costs, or renovate your home, leverage the equity in your home to help you meet your financial goals.
