| Home Equity Report

How Much Equity Do you Have?

Can I Upsize?
Should I refinance?
Does it make sense to sell?
Need a remodel?

What is Equity?

Home equity represents the valuable asset that homeowners accumulate as they pay down their mortgage, and as their property appreciates in value over time. It's essentially the difference between the current market value of your home and the outstanding balance on your mortgage or any other loans secured by the property.

Picture it this way: if your home is valued at $300,000 and you owe $200,000 on your mortgage, your home equity stands at $100,000 ($300,000 - $200,000). This equity serves as a financial resource that homeowners can leverage for various purposes.

Through mechanisms such as home equity loans, home equity lines of credit (HELOCs), or cash-out refinancing, homeowners can tap into this equity to fund home renovations, consolidate debts, or cover other significant expenses. These financial products offer flexibility and often come with competitive interest rates, making them an attractive option for homeowners looking to access funds.

However, it's crucial to approach leveraging home equity with caution. While it can be a valuable tool for achieving financial goals, it also involves risk. Failing to repay these loans could ultimately result in the loss of your home through foreclosure. Therefore, it's essential for homeowners to carefully consider their financial situation and consult with a qualified mortgage professional before accessing their home equity.

Browse Market Listings

Learn More

Why Is an Equity Report Important?

When to use a Home Equity Report

REFINANCING

Lenders base the amount of their loans on the value of your property and usually allow you to borrow a maximum of 75% to 96.5% against your property. Knowing what your home is worth allows lenders to calculate your equity in the home. The more equity you have, the better terms you will receive on your refinance.
HOME IMPROVEMENTS

If you’re doing home improvement projects to increase the resale value, you want to make sure you’re not pricing it out of the market. If your home is already priced on the high-end for your neighborhood, making too many improvements could make it more difficult to sell. When you get a valuation, you can see how your home compares with others in the neighborhood and let this guide your home improvement decisions.
QUALIFYING FOR CREDIT

If you want to borrow cash against your home, getting a Home Equity Line of Credit (HELOC) could be a good option. To qualify, you must have a certain level of equity in your home. Most lenders require at least 20%. Getting a home valuation will help you determine if you qualify and will be used by the lender to make a decision on your loan.
PLANNING

Though it’s not a necessity, simply knowing the value of your home is good information to have. It will help you plan for the future and deal with unforeseen circumstances when you might be in a position that requires extra money or a quick relocation. Knowing how much equity you have in your home and how much you may be able to borrow against it or sell it for will help you respond to any financial curveballs that life throws at you.

Follow Me on Instagram

Follow Me

Contact Details

Jim Black | NMLS# 633511

Phone

(925) 285-4898

[email protected]

Open hours

M-S 8:00am -6:30 pm Sunday : By Appointment Schedule here: www.Calendly.com/meetjimblack

Address

Revest Homes, Inc 2571 S. Main St. Ste D Soquel, Ca 95073 NMLS: 2362319 DRE: 02174879 www.RevestHomes.com

Submit a Message

Middle Name

Name

Phone

Message

By providing Jim Black your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.

Get your instant home valuation

Get the best price for your home

Get a full valuation from a local expert

Luxury Presence Home Value

Estimate not available

How Much Equity Do you Have?

What is Equity?

Browse Market Listings

Why Is an Equity Report Important?

Follow Me on Instagram