Can You Afford Another Home With Your Current Equity? (It's free for Homeowners)
Hey everyone, have you been thinking about buying another home but aren't sure if you can afford it? Consider checking your current equity! Your home equity is the difference between what your home is worth and what you owe on your mortgage. If you have built up enough equity, you may be able to use it to finance a down payment on a new property.
To determine your home equity, you can either get a professional appraisal or use an online home value estimator tool like they one provided. Once you know your equity, you can use it to calculate how much you can afford to put down on a new home.
Keep in mind that there are other factors to consider when buying a new home, such as your debt-to-income ratio and credit score. But knowing your home equity is a great place to start.
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