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Leverage the Equity in Your Home

Are you considering selling your primary property? Understanding your property’s

equity can be a key factor in helping you decide about selling.

Equity is the difference between your property valuation and the amount you owe on it. As soon as you purchased your property and started to pay the mortgage you began

building equity. Likewise, over time, the value of the property increases. Home

values have increased exponentially in the last few years, which means your equity

has also skyrocketed.

Make your equity work for you to buy up into that dream home, downsize with less

debt, or start investing in rental properties.

Here’s how to leverage that equity:

1. Be an all-cash Buyer: If your current mortgage is low or you have paid off

your mortgage, you may have enough equity to be a cash Buyer for your new

property, which in a competitive market gives you buying power to beat out

competing offers.

2. Make a large down payment to reduce your new mortgage amount and

make the monthly payment the same or less than your current one. Putting

more down may also get you a better interest rate from the lender. A larger

down payment lowers the risk the lender takes.

3. Stay in your current home and buy an investment property. New Fannie Mae

guidelines allow for putting down as little as 5% on 2–4-unit multifamily

properties. OR maybe you want to get into fixing up distressed properties

and reselling them. Paying cash for these types of properties may get you a

better purchase price and allow for more proceeds to be reaped when it


In 2024, housing prices are not predicted to fall but to continue to increase.

Supply is still low, but more buyers will be out looking for homes due to

lower steady interest rates.

To consider your options, contact Dorene Swanson, Designated Managing Broker of Glacier Realty, Inc.

Visit our website and on Facebook and Instagram.

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