Many homes in the area have increased in value over the past couple of years. Home mortgage rates are trending upward, and analysts agree they will continue to rise this year.
Often homeowners turn to the equity in their homes when they have expenses such as home improvements, education and unexpected emergencies. Equity is the difference between your home’s fair market value and the outstanding balance of all liens.
If funds are needed for an upcoming expense and you want to use your home’s equity, you may want to consider acting now before rates skyrocket. Learn more at nolalending.com.