Gay Realtors Advice About Tapping Into Equity to Buy a Second Home

With interest rates low, and home prices rising, we have many of our Gay Real Estate .com clients asking if now is the time to buy a second home ~ we think the timing is great IF the investment is affordable to you… also after the recent crash, we’d prefer you not have all your eggs in one basket.

Tapping Into Equity to Buy a Second HomeWith housing markets heating up and interest rates still low, it can be a great time to invest in real estate. But if you don’t have a lot of extra cash on hand, how do you pay for it?

There are the usual methods, like financing the purchase with a mortgage or selling some stocks and bonds, and the usually bad ideas, like taking money out of your IRA or a loan from your 401(k), but some second home buyers have another option: the equity they’ve built up in their home.

Home equity is the difference between what a person owes on their mortgage and their home’s market value. For example, someone who owes $200,000 on a home that is worth $300,000 has $100,000 in home equity.

As home prices rise nationwide, so too does the value of your home’s equity…

Read the full story at: CNN/Money

Author: admin

In the mid 1990’s Jeff Hammerberg a Gay REALTOR working at a successful ReMax Office in Colorado witnessed discrimination first hand and has spent his career changing the way the Gay & Lesbian Community buys or sells a home. “My goal is to make sure when you walk in to or call a real estate office, you have an appointment with a top producing agent that you know stands in full support of you as a gay or lesbian person and works with you as your advocate throughout any transaction. Let’s make sure the commissions earned by an agent you employ, are not being used to fund positions or causes that don’t stand in full support of the LGBT Community. Many of our Gay & Lesbian REALTORS are Top Producers in their communities, offering unparalleled service today and in the future. There is no cost or obligation to use any of our services or directories.”