House prices have gone up in many markets across the country. Here are two ways you may beable to benefit if your home has gone up in value:

1 – Cash-out Mortgage Refinance

You may be able to access some of your newly created home equity byrefinancing your mortgage into a higher-balance loan. Cash-out proceeds may beused for:Debt consolidation – pay off other debts with higher interest ratesHome improvements – make new indoor or outdoor improvements to your homeAny other purpose including other large upcoming expenses

2 – Sell Your Home with Tax-Free Capital Gains

If you’ve lived in your house as your primary residence for two out of the past five years, you may be able to sell it at a profitwithout having to pay any capital gains taxes. The limitations on this are $500,000 of tax-free gains for married couples filinga joint tax return and $250,000 of tax-free gains for individuals or married couples filing separate tax returns. For more details,see my article titled, How to Get the Primary Residence Capital Gains Tax Exclusion.PLEASE NOTE: This article is provided for illustrative purposes only. It is not an offer or commitment to lend you money, andit is not an advertisement for a specific mortgage or a specific interest rate. Contact me to run the numbers for your situation.Source: CMPS Institute

Christine MaherPresidential Mortgage Groupchristine.maher@presidential.com(215) 262-93536 Neshaminy Interplex, Suite 205,Trevose, Pennsylvania 19053