If youโve been a homeowner for a few years, chances are youโve locked in a great interest rate. But now, as time has passed, you might find yourself considering a move. Whether itโs because your family has grown, youโre looking to downsize, or youโre eyeing a new neighborhood, you may have hesitated due to not wanting to let go of that fantastic rate. Sound familiar? Well, Iโve got some exciting news to share.
You donโt have to bid farewell to that amazing interest rate just yet. Instead, letโs turn that โpainfulโ thought of giving it up into a winning strategy!
Hereโs the deal: Ever thought about leveraging your current home? Many homeowners whoโve been settled for a while are sitting on a pile of equity thanks to significant home price appreciation. By utilizing a Home Equity Line of Credit (HELOC), you can tap into that equity to fund your next home purchase. Use those funds for your down payment for your new place.
Translation? You get to keep that amazing interest rate on your current home, while upgrading to your ideal living space! And whatโs even better? You can turn your previous property into a cash cow by renting it out and letting someone else pay your HELOC and mortgage payments.
If youโve also been contemplating giving your home a makeoverโwhether itโs a kitchen renovation, bathroom upgrade, or transforming your basement into a cozy retreatโyour homeโs equity can help foot the bill for these projects. Bryan and I are currently in the midst of finishing our basement and tapping into our equity to make it happen. Iโll be sharing our journey along the way.
Not sure how a HELOC works? Feel free to reach out and Iโll give you the scoop. Sounds intriguing, doesnโt it? If youโre curious about how this could be your golden ticket to financial success, letโs chat!
Angie Albertson
Keller Williams Inspire
[email protected]
773.837.2077