Your Home Equity Could Be Paying Your Bills
- ICE Mortgage Technology
- Apr 26, 2019
- 1 min read
Updated: Feb 18, 2021
Did you know that more than 17 million U.S. properties are considered "equity rich" — where more than 50% of the property's market value is paid off?* Even if you don’t fall into this category, there’s a chance your home equity has grown thanks to rising home values across the country.
That means you could be sitting on a pile of money.
Want to turn your home equity into liquid cash? With a cash-out refinance, you can tap into those funds and use them for other things: investing, remodeling, or paying off bills.
For most people, the current mortgage interest rate is much lower than the rate they pay on car loans, credit cards, student debt, and other high-interest bills. Why not pay off some of those costs using the equity you've built in your home?
If you're ready to make your money work for you, give me a call to discuss your cash-out refinance options!
*Source: ATTOMTM Data Solutions, data as of Q4 2020.