{"id":32820,"date":"2025-07-07T04:00:49","date_gmt":"2025-07-07T11:00:49","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=32820"},"modified":"2025-07-08T02:33:01","modified_gmt":"2025-07-08T09:33:01","slug":"buyer-unlock-home-equity","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/buyer-unlock-home-equity\/","title":{"rendered":"Options to Unlock Your Home Equity When Finances Are Tight"},"content":{"rendered":"

Many homeowners find the greatest financial security lies right beneath their feet, and now may be the perfect time to unlock home equity<\/a>. With the average borrower holding $302,000 in equity<\/a>, tapping into that value can offer real relief when finances are tight.<\/p>\n

\u201cWith the record amount of equity built up in homes over the last couple of years,\u201d says top-performing agent Joseph Lawson of the Cabell Childress Group<\/a> in Richmond, Virginia<\/a>, \u201ca lot of people are exploring ways to tap into this access to capital.\u201d<\/p>\n

To help you examine your equity\u2019s potential to enhance your financial situation, we\u2019ve asked industry experts to explain the options. With that knowledge, you can be prepared to make the most out of the equity<\/a> in your most valuable investment.<\/p>\n

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\n \"homelight\n <\/div>\n \n

How Much Is Your Home Worth Now?<\/h3>\n

Get a near-instant home value estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home\u2019s last sale price, and other market trends to provide a preliminary range of value in under two minutes.<\/p>\n \n

\n Get Estimate<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n
<\/div><\/p>\n

What is home equity?<\/h2>\n

\u201cHome equity is the value of your home minus any debt on your home,\u201d explains Lawson.<\/p>\n

So, if you own a home that\u2019s estimated to be worth $300,000, and owe $100,000 on your mortgage, then your equity is $200,000.<\/p>\n

Since your home\u2019s value<\/a> changes with the market, your home might be worth more or less than the price you paid.<\/p>\n

By using HomeLight\u2019s free online Home Value Estimator<\/a>, you can generate an up-to-date approximation of your home\u2019s current value in less than two minutes. While a mortgage is the most common debt, liens<\/a> (legal claims against the property), back taxes, and outstanding balances owed to other creditors can also reduce your equity.<\/p>\n

Also, \u201cIf you want to gain access to your equity by selling the home,\u201d Lawson adds, \u201cthere are additional expenses related to the transaction of a sale \u2014 Realtor commissions and closing costs […] need to be deducted from your equity estimate.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Want to unlock home equity? Discover how to turn your home’s value into cash for renovations, debt payoff, or other big expenses.<\/p>\n","protected":false},"author":305,"featured_media":32822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[192,654,632],"tags":[747],"class_list":["post-32820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-buyers","category-homeownership","category-mortgage-loans","tag-economic-trends"],"acf":[],"yoast_head":"\nOptions to Unlock Your Home Equity When Finances Are Tight<\/title>\n<meta name=\"description\" content=\"Want to unlock home equity? Discover how to turn your home's value into cash for renovations, debt payoff, or other big expenses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homelight.com\/blog\/buyer-unlock-home-equity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Options to Unlock Your Home Equity When Finances Are Tight\" \/>\n<meta property=\"og:description\" content=\"Want to unlock home equity? Discover how to turn your home's value into cash for renovations, debt payoff, or other big expenses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.homelight.com\/blog\/buyer-unlock-home-equity\/\" \/>\n<meta property=\"og:site_name\" content=\"HomeLight Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/gohomelight\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-07T11:00:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-08T09:33:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/hl-blog.homelight.com\/wp-content\/uploads\/2022\/08\/unlock-home-equity.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adrian E. Hirsch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@gohomelight\" \/>\n<meta name=\"twitter:site\" content=\"@gohomelight\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrian E. Hirsch\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Options to Unlock Your Home Equity When Finances Are Tight","description":"Want to unlock home equity? 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