Your Home Buys You Another House Secret

If you're eager to unlock the secret of how your current home can finance a second property, it's time to browse options and explore the potential financial freedom waiting for you.

Understanding the Concept: Home Equity

The idea of using your home to buy another house hinges on the concept of home equity. Home equity is the portion of your property that you truly own, calculated by subtracting any outstanding mortgage balance from your home's current market value. For instance, if your home is valued at $300,000 and you owe $200,000 on your mortgage, you have $100,000 in equity.