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Using your Home’s Equity to Upgrade Your Home

Real Estate Developers

Using your Home’s Equity to Upgrade Your Home

Posted by FLH Team on March 21, 2024 at 5:08 pm

Looking to tap into your home’s equity to make improvements and increase its value? You’re in the right place! Join our forum discussion to explore various ways to leverage your home’s equity for upgrades, share your experiences, and learn from fellow homeowners who have successfully financed their home improvement projects.

Laura Elkins replied 6 months, 2 weeks ago 3 Members · 2 Replies
2 Replies

Elizabeth Cooley

Member
February 22, 2024 at 5:16 pm

Hello everyone! So, I’ve been thinking about sprucing up my place lately, and I stumbled upon this whole idea of using the equity in my home to fund some upgrades as I consider this as my forever home.

Have you ever considered doing something like that? I mean, it sounds like a pretty sweet deal – you get to make your home even better while tapping into its built-up value. But I’m kinda curious about how it all works and if it’s really worth it. What do you think? Got any tips or experiences to share?
Laura Elkins

Member
February 22, 2024 at 5:57 pm

That’s awesome you’re thinking about jazzing up your place. You may actually want to check a first lien heloc.

You see, over time, as you pay down your mortgage and your home’s value increases, you build up equity. A first lien HELOC lets you borrow against that equity. It’s like unlocking the savings you’ve put into your home. You can use the funds for any upgrades you want – kitchen, bathroom, deck – you name it.

Upgrades can boost your home’s value. So, it’s a win-win situation!

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