How to Find the Right Amount of Equity Release for You
Is Your Home Really Worth What You Owe? Solving the Riddle of Equity Release Equity release is a product that allows homeowners to access some of the money they have built up in their house without selling it. This sounds like a great idea, but how do you know what size equity release is right for your situation? With this free calculator, you can easily fid out how high your home’s equity is and how much it would take to buy one or two more homes, based on the way you plan to use your retirement funds. We consulted with a mortgage specialist at one of the country’s top banks to find out what you should keep in mind when deciding how much equity release is right for you. How old are you now? This is important to know because of the time frame on which you will be living in your house. If you are only going to live there for a few years, the loan might not make more sense than renting. Are your children grown up? This is important because if they still rely on you financially, then getting equity release may affect how much support they can receive from public benefits programs like Social Security or Medicare and Medicaid long-term care insurance. It also affects their ability to get student loans when colleges come calling. If any of these apply to you, it’s best that your financial advisor take a good look at what kind of mortgage option would work better before deciding whether or not an equity release product is right for you! Do your health and other care needs mean that you will need more help later on in life? If so, then it might make sense to delay equity release until you start needing more help. You’re also going to want to think about how long you plan on living in the home before getting an equity release, because this will affect your monthly expenses and income over time. If you are planning on staying put for a while, then mortgage interest rates may be lower than they would otherwise be if you get an early equity release: since there is less debt outstanding on the loan as of that date! In other words, your financial advisor should carefully evaluate whether or not an option like equity release makes sense for your current situation. Talk with them today about what’s best for you and give yourself some peace of mind by knowing where things stand beforehand!