As your mortgage balance declines and your property value increases, you accumulate equity in your home. This is a form of wealth that you can tap into and use to pay a variety of expenses.
“Home equity is more than just a number,” explains Jo Ann Theriault-Fazio, SVP of Mortgage Lending & National Sales Director at Proper Rate. “It’s a reservoir of potential that, when tapped wisely, can transform your financial landscape.”
“Tapped wisely,” though, is key.