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Real Estate
Eileen M. Day REALTOR ~~
TWO FINANCIAL ASSETS
Owning a home is like having two financial instruments that make money for you every day, every month, and every year. One of these money makers is the appreciation in the resale value of the home. This rate of increase is always more than the inflation rate, i In addition to price appreciation, you also enjoy the buildup of equity. Equity is the part of your mortgage payment that goes toward reducing the loan amount. When you well the house, you collect your equity in cash, i The main difference between the two is that you only cash in on the price appreciation when you sell your home, but the equity is actually a form of savings that can • be used as loan collateral. For instance, you can use a home-equity , loan to borrow with considerable financial leverage. After you’ve built up enough equity in your property, you can arrange loans of ® thousands of dollars to finance a
1 college education, vacation or \ some other important expense.
If there is anything we can do to help you in the field of real estate please stop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, Va. 22747. Phone 675-3033. We re here to help.
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