Understand How to Better Build Wealth Through Homeownership

The term "building wealth" has a nice ring to it. But what exactly does building wealth through homeownership involve? It comes down to knowing your home's value, having an accurate report of equity acquired, and how to best leverage that equity.

It can be daunting if you are not a financial expert or if running numbers isn't your thing. A few years ago, a lender I work with frequently, Kim Martin from Universal Lending, introduced me to an incredible report called Homebot. I was blown away by the information this report provided, and it allows you to adjust the value of your home to reflect your market area. It is free and secure.

Here is a breakdown of everything the monthly report provides about your home.

An estimated value of your home that can be adjusted. If you are not sure what the accurate value is, I can quickly help you with that. Once an amount is established, the report will tell you how much your home has increased in value since you purchased it - your net worth and how it is calculated.

The "What's Important Now" section provides three different scenarios; if you refinanced, what the monthly savings would be, your purchasing power amount if you buy a new home, or how much equity you have for emergency uses.

The report also breaks down what has been paid to date in principal and interest and spells out total interest paid over a 30-year mortgage. It also provides a monthly savings amount if you refinanced with quotes for a 15, 25 or 30-year mortgage + a link to see your interest rate.

The report provides a scenario of how much you'd save by paying a little extra each month.

Alternatively, if you were to buy another home, how much could you afford with four scenarios; primary residence, investment property, rent your current home, buy a new one, or sell and pocket the cash. All of this is based on the information you enter and is entirely secure and confidential.

And last, the report lays out different ways you could use the equity in your home, for example, adding solar panels and an estimated cost of doing so.

Don't be fooled by the simple title of What's Your Home Worth because this tool and report give you so much more than a basic valuation. You will have your own secure login and will not be asked for account numbers or other confidential information. A report will be emailed to you once a month. Trust me - this one has true depth and helps define a clear path to building wealth through homeownership.

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GET STARTED BY ENTERING YOUR ADDRESS HERE

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