Unlocking Equity: How Your Home Can Fund Your Next Move
Moving Fort Wayne · Episode 5
Unlocking Equity: How Your Home Can Fund Your Next Move
with Charity Middleton, Noll Team Real Estate
Brad Noll and Charity Middleton, now in her 13th season with Noll Team Real Estate, share three tips for move-up buyers: leverage your equity, move before the floodgates open, and play the long game. They explain how homeowners can use the equity they have built, buy before they sell, use a mortgage recast, and think about wealth over the long haul.
▶ Listen to the episodeKey Takeaways
- Your equity is the biggest reason to move up. Brad says anyone who bought about five years ago may have around $100,000 in equity, which can fund a larger down payment, savings, or improvements.
- Every buyer thinks about money differently. Some focus on price, some on payment, some on rate or down payment. Asking which matters most shapes the advice.
- Plan before you list. Bridge loans, home equity lines, and contingent offers all depend on timing. Charity notes a home equity line usually cannot be opened once the house is for sale.
- A recast can lower your payment. After the old home sells, putting the equity toward the new loan and asking the bank to recast keeps the same rate for a fee of a couple hundred dollars.
- Nobody can time the market. Charity sets realistic expectations for sellers and reminds buyers that waiting for lower rates can mean paying more as prices rise.
- Wealth is built over the long haul. Owning a larger asset over time can grow faster than a smaller one, and smart loan structure over the years matters more than chasing a rate.
Chapters
- 00:00Welcome and Charity's 13 seasons
- 02:24Three tips and the lock-in effect
- 02:48What is a move-up buyer?
- 05:39Tip one: leverage your equity
- 11:37Using equity to invest
- 14:52Pre-approval, two mortgages, and timing
- 20:17How a mortgage recast works
- 21:42Tip two: move before the floodgates open
- 28:15Tip three: play the long game
- 34:04Charity's own move-up journey
Read the article
How Fort Wayne Move-Up Buyers Can Use Home Equity for Their Next Home
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