5 smart ways to use home equity in 2023
2023年2月1日 • 5分钟阅读
5 smart ways to use home equity in 2023
5 smart ways to use home equity in 2023
极高的兴趣. 历史性的通货膨胀. 裁员. If 2023 is anything like 2022, we’re in for a wild ride. How do you protect yourself financially? If you own a home, here are simple steps you can take today to prepare for what’s next.
什么是房屋净值贷款?
很好的问题. 让我们来分析一下. At its simplest, a home equity loan is a loan made against a home’s value. 房屋净值 is a home’s value minus what you owe on your mortgage.
That’s money in the bank for homeowners. A home equity loan frees up a home’s value by letting homeowners borrow against it, typically at lower rates than things like credits cards. 如果你是房主, that’s powerful.
Let’s say your home’s appraised value is $400,000 and you owe $300,000 on your mortgage. To 找出你房屋的资产净值, take 90% of your home’s value ($360,000 in this example). Subtract what you currently owe and your equity is $60,000. This money could be available to you either 一次性支付或按需支付.
A home equity loan gives you financial flexibility to do things like:
放弃高利息
美国人平均支付18美元.43% APR on credit cards in the third quarter of 2022, according to the 美国联邦储备理事会(美联储,fed). 这是38年来的最高比率. If you overspent during the holidays — and let’s face it, who didn’t — and carry a balance on your personal or store credit cards, you’re facing a lot higher payments over the next several months than you were a year ago.
房屋净值 loans have much lower fixed interest rates with fixed monthly payments, making them a smart choice to fine-tune your finances by paying down credit cards as interest rates rise.
重新装修那个70年代的浴室
Smart home improvements increase the value of your home. If you’ve been thinking about finally jettisoning those glitter Formica countertops in your kitchen or bathroom, 用于改造的房屋净值贷款, upgrade or a new roof is a smart way not only to build wealth by increasing your home’s value, it also can improve your day-to-day quality of life for years to come.
髋关节、膝关节或足部手术
在自己动手修理之后, it’s no surprise you may be faced with a planned or unplanned medical expense in the not-too-distant future. When the time comes and your body needs fixing, you don’t want to have to worry about how to pay for it. A home equity loan can give you peace of mind that if you do have medical needs, you can rest and recover knowing you’re getting the best interest rate you can and not paying a dollar more than you need to.
支付孩子的教育费用
If you have one or (gasp) several children of college-age years, we feel your pain. How much you pay to borrow money for their ongoing education will become critical. 这几乎是不言而喻的, but make sure you use any federal financial aid first before considering tapping into your home’s equity. The last thing you want to do when teaching your kids how to adult is to borrow too much against your own future. That’s why locking in a low interest rate now on a home equity loan makes smart money sense as stubborn inflation persists.
生命的紧急情况
The pandemic knocked us all off our financial A-game. 房屋净值 loans can also be used for unanticipated expenses, whatever they may be. 现在是重组的时候了, reset and figure out a smart path forward to protect yourself against future losses during uncertain times.
如果你是房主, leveraging the value in your home is a smart tool in your money toolkit to consider.