Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner? As home values rise, so does your net worth. And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize.   What Is Home Equity? Home equity is the difference between what your house is worth and what you owe on your mortgage. For example, if your... [read more]

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too. According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see... [read more]

  Whether you've recently retired or are considering it, you could be weighing your options and attempting to envision a whole different phase of your life. You're not alone either. 10,000 Baby Boomers reach the normal retirement age of 65 per day, according to research from the Retirement Industry Trust Association (RITA), and just 47% of that cohort has retired as of yet. If this sounds like you, one thing worth considering is whether or not your current home will... [read more]

    It is true that over the previous few years, unprecedented home price increases have resulted in large equity gains for homeowners. According to CNBC's real estate correspondent Diana Olick: “The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth.” That’s great for your home’s value over the last couple of years, but what if you’ve lived in your home for... [read more]