Whether you are looking to sell your home or make modifications, it is important to know how much equity you currently have in your home. The amount of equity you have in your home plays an important role, especially when trying to qualify for a line of credit. Your home equity is the difference between the appraised value of your home and your current mortgage balance(s). The more equity you have, the more financing options may be available to you. Keeping your home well-maintained and lowering your mortgage balance significantly impact your home’s equity. In 2018, home values are expected to rise. The equity in a home will automatically increase as property values go up.
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