Key Takeaways:

• Homeowner equity is the difference between the value of your home and the amount you owe on your mortgage.• Homeownership allows you to build wealth and increase your net worth over time.• You can leverage homeowner equity for financial flexibility and opportunities.• Strategies to maximize homeowner equity include paying off your mortgage faster, renovating your home, and refinancing to take advantage of low interest rates.• When tapping into home equity, understand different types of home equity loans and use a home equity line of credit (HELOC) responsibly.• Considerations for using home equity to invest in real estate include thorough research and seeking professional guidance.• To protect and grow homeowner equity, maintain adequate homeowners insurance, maintain and improve your property, and monitor market trends and home values.  Read more