Home Equity: How to Use It

Real Estate Matters with Tim Bro

Home Equity: How to Use It

A refinance pays off your current mortgage and gives you cash based on your equity. These are good for:

·         Lowering or locking in your mortgage interest rate

·         Getting large sums of money ($30,000 or more)

Home equity loans (second mortgage) are installment loans that are paid out in one lump sum. They’re good for:

·         repaying credit card debt

·         remodeling projects

·         buying a new vehicle

A home equity line of credit works like a credit card – you agree to a pre-set limit and then borrow as you need to, or in the event of an emergency, usually for up to 10 years, repay/reuse. Good for:

·         debt consolidation

·         major home improvements

To get started with your home sale or purchase, call Tim @ 858-354-2354, “The Right Choice in Real Estate”.  BRE #01224576

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What's Happening??!!

What’s happening in today’s real estate market A LOT!!!!

The market is robust and good properties are moving quickly in San Diego, California. It’s a fantastic time for buyers with these low interest rates. But they will NOT last forever.

Fed members will be zeroing in on the data and may begin adjusting rates UPWARD.

They will be taking a good hard look at Initial Jobless Claims, Retail Sales, and Producer Price Index – these are the measures they review for inflationary trends.

If you or someone you know is considering buying or moving up …. NOW is the time to do so with these Incredible Rates.

Call Tim Brodowski at 858-354-2354 to review your real estate wants and needs. 

BRE #01224576