Gulfport Homes Equity – Why and How

    Gulfport Home Refinance – Cash In Hand

    Whether you want money for home improvements, college or a vacation, you can use the equity in your home to provide the funds you need. Refinancing your mortgage is a wonderful way to get the cash in your hand to enable you to tackle projects you have been putting off.

    There are two ways to turn the equity in your Gulfport home into usable cash. A home equity line of credit is one option that works well for many homeowners. A more traditional choice is a cash-out refinance of your existing first mortgage.

    How Do You Know if You Have Equity?

    Equity is the difference between the amount your home is worth and the amount you owe your mortgage company. It represents the portion of your home that you actually own. In order to figure the approximate amount of equity you have, you will need to know what your home is worth. The most accurate way to find the value of your home is to purchase a real estate appraisal. Other methods include researching property sales in your neighborhood or using the tax assessor’s value of your property.

    Why Should You Get Cash From Your Home?

    Many people, especially those who plan to sell their home in the future, get cash from their home to make improvements that will increase the value of their property. If you want to remodel your kitchen or finish your basement, you can use the proceeds from a cash-out refinance or a home equity line of credit to finance the project.

    While home improvements are one of the most popular uses of equity, they are not the only reason homeowners refinance their mortgages. Because there are no restrictions on the use of the funds from your cash-out refinance, you can use it for any major purchase including college tuition, medical bills or unexpected expenses.

    Check out our other articles on Gulfport Home Financing:

    Say YES! To Lower Gulfport Home Mortgage Payments

    How Your Credit Report Can Make It Or Break It For You

    Testimonials

    We contacted Amanda & Associates in December 2015 and was put in contact with Jordyn Favret. From day one, Jordyn was thorough and professional. She went above and beyond to deal with an extremely difficult seller even spending hours in the evening and on the weekends to close the deal on the property. Jordyn answered all of our questions and when she didn’t know the answer, she made the effort to investigate it and get back with us in a timely manner. She met with the rental manager and viewed …
    Tami McGurk