Home equity is a homeowner’s financial stake in their property that they own free of their mortgage loan obligation. It’s calculated by taking the current value of your home minus your principal balance and the total of any additional liens that must be paid off before selling the property. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that these added liens could be in the form of a second mortgage, outstanding property taxes, or child support owed. But if you don’t have any additional liens to account for, simply take your home value minus your unpaid principal to estimate your home equity. Check out below to see what sold in Northville Colony Estates in October 2022:
16122 Portis Road, Northville: 4 bedrooms, 2.1 bathrooms, 2,031 sq. feet, 2 car garage, Sold Price: $446,500
Northville Colony Estates Home Sold
For more information on Northville Colony Estates, or similar Northville or Novi neighborhoods such as Lakes of Northville, Orchard Ridge Estates and Roma Ridge, contact The DiMora Team today at 248-505-7728 or firstname.lastname@example.org.