Equity
Using Your Home’s Worth
Each monthly mortgage payment you make increases the equity you have in your home. At the same time, if the value of your home increases due to a favorable housing market, your home may be worth more than when you bought it. Through refinancing, you can free up some of this money for other purposes.
(It’s important to note that taking equity out of your home is not the same as taking out a home equity loan. When you take out a home equity loan, you are basically taking out another loan on your property.)
Using Your Home’s Worth
Each monthly mortgage payment you make increases the equity you have in your home. At the same time, if the value of your home increases due to a favorable housing market, your home may be worth more than when you bought it. Through refinancing, you can free up some of this money for other purposes.
(It’s important to note that taking equity out of your home is not the same as taking out a home equity loan. When you take out a home equity loan, you are basically taking out another loan on your property.)
There are many reasons people take equity out of their home. Some of the most common include paying for a child’s college tuition, funding a home improvement project, buying a second home, or paying off debts that have non-tax-deductible interest costs (the interest on home loans is tax deductible).
There are many reasons people take equity out of their home. Some of the most common include paying for a child’s college tuition, funding a home improvement project, buying a second home, or paying off debts that have non-tax-deductible interest costs (the interest on home loans is tax deductible).
Whether it makes more sense to refinance and take cash out or borrow using a home equity loan depends on your financial goals, the interest rates on the new loans, the interest rate on your existing mortgage, your marginal income tax rate, and your ability to deduct the mortgage interest from your taxes.
Whether it makes more sense to refinance and take cash out or borrow using a home equity loan depends on your financial goals, the interest rates on the new loans, the interest rate on your existing mortgage, your marginal income tax rate, and your ability to deduct the mortgage interest from your taxes.
Whether you’re looking to lower your monthly payments, pay off debt—or tap the equity you’ve built up in your home for any other reason—Smart Money Funding can help you make sure you use the equity you’ve built to its maximum benefit. Call us today to learn more.
Whether you’re looking to lower your monthly payments, pay off debt—or tap the equity you’ve built up in your home for any other reason—Smart Money Funding can help you make sure you use the equity you’ve built to its maximum benefit. Call us today to learn more.
Gianfranco is simply AMAZING! From the first day I started working with him it has been a pleasure. He is always very personable with my clients, he explains everything in detail and he even meets with my clients in person if they prefer.
I never have to worry about an extension most of the time we get the clear to close ahead of time 😊 He does all types of loans, CHFA, FHA, VA, Conventional 3%, Conventional, rehab even hard money loans for investors. His closing costs are super fair and his rates are super competitive. If you are looking for a great lender, Gianfranco and his TEAM are the perfect combination for a smooth transaction, you will not regret it!
I’ve been on the Real Estate business for 15 years and have used several lenders, until I met Gianfranco DiDomenico. Gianfranco is the most proactive, detailed and responsive lender I know. Gianfranco treats every buyer and Realtor like that are the only client and delivers everything he promises and on time or before. I highly recommend this wonderful man for a fantastic experience.
Recently we have used financial services of Gianfranco DiDomenico and can say he is a real expert in his field. Not only that, he is also the nicest person of all. Highly professional as per our experience and very willing man. Right to the point to move everything smoothly and quickly! Yes, we definitely would recommend him!
Gianfranco was very helpful throughout the whole process and responded very promptly to any questions I had.
The Smart Money team are true professionals! Whether you have a client that is a first time buyer or an investor with multiple properties, Gianfranco is knowledgeable, responsive, diligent and a definite team player!
Gianfranco is simply AMAZING! From the first day I started working with him it has been a pleasure. He is always very personable with my clients, he explains everything in detail and he even meets with my clients in person if they prefer.
I never have to worry about an extension most of the time we get the clear to close ahead of time 😊 He does all types of loans, CHFA, FHA, VA, Conventional 3%, Conventional, rehab even hard money loans for investors. His closing costs are super fair and his rates are super competitive. If you are looking for a great lender, Gianfranco and his TEAM are the perfect combination for a smooth transaction, you will not regret it!
I’ve been on the Real Estate business for 15 years and have used several lenders, until I met Gianfranco DiDomenico. Gianfranco is the most proactive, detailed and responsive lender I know. Gianfranco treats every buyer and Realtor like that are the only client and delivers everything he promises and on time or before. I highly recommend this wonderful man for a fantastic experience.
Recently we have used financial services of Gianfranco DiDomenico and can say he is a real expert in his field. Not only that, he is also the nicest person of all. Highly professional as per our experience and very willing man. Right to the point to move everything smoothly and quickly! Yes, we definitely would recommend him!
Gianfranco was very helpful throughout the whole process and responded very promptly to any questions I had.
The Smart Money team are true professionals! Whether you have a client that is a first time buyer or an investor with multiple properties, Gianfranco is knowledgeable, responsive, diligent and a definite team player!
