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Ways To Build Home Equity

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Ways To Build Home Equity

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  1. Ways To Build Home Equity Equity is the difference between current  value of your home & the balance amount you owe on mortgage. Home equity builds over time; however, here are some tips to help you build it faster: 01 01 Paying one extra principal payment every year helps in building your equity & paying off the mortgage early. One of the ways to pay an extra installment every year is to divide the value of your monthly payment with 12 & pay the resulting amount in addition to every installment. 01 02 Invest in home improvement projects like refinishing cabinets, changing garage doors, kitchen remodeling, adding a bedroom extension, landscaping, etc. This adds value to the property which in turn increases the returns and builds equity. 01 03 Consider your financial situation and choose a loan with shorter term. To make an informed decision, calculate the monthly payments for different loan terms & choose the shortest possible term depending upon your monthly budget. This will help in building  equity at a faster rate. 01 04 Making low down payment may seem alluring, but try to save & make a larger down payment for building your home’s equity. Also, consider cash-in strategy instead of cashing out funds when you refinance your home. 107 W. Hwy. 190 Copperas Cove, TX 76522 254-542-5100 2201 Trimmier Rd. Killeen, TX 76541 254-680-6158 3106 S. WS Young Dr., Bldg. D, Ste. 402 Killeen, TX 76542 254-953-7000 14641 S. Padre Island Dr., Ste. B Corpus Christi, TX 78418 361-949-4647 10961 Gateway Blvd. West, Ste. 200 El Paso, TX 79935 8522 Broadway St., Ste. 208 San Antonio, TX 78217 210-340-0404 915-843-2681 1320 N. Zaragoza Rd., Ste. 111 El Paso, TX 79936 915-858-1996 7348 W. Adams Ave., Ste. 200 Temple, TX 76502 254-771-0020 201 E. Central Texas Expwy., Ste. 1600 Harker Heights, TX 76548 254-680-6155 16165 North 83rd Ave., Ste. 200 Peoria, AZ 85382 480-752-3110 100 W. Central Texas Expwy., Ste. 300 Harker Heights, TX 76548 254-690-3765 www.fcmloans4u.com Image Source: Designed by Freepik

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