04843, Camden, ME

The 4843 zip code of Camden, ME is located in the eastern part of the state and has a population of about 9,000. The median household income in this zip code is $60,000 and the median home value is $130,000. Home equity in this zip code has increased by about 20% over the past five years and home prices have increased by about 10%.

One reason for the increase in home equity is that there has been an increase in jobs and wages in this area. Additionally, there has been an increase in demand for homes due to an influx of new residents and a decrease in available housing stock. Another reason for the increase in home equity is that many homeowners have taken out mortgages to purchase their homes.

There are some risks associated with buying a home with home equity. If you are not able to make your mortgage payments, your home could be seized by the lender or sold at auction. Additionally, if interest rates rise significantly, yourhome equity could be worth less than what you owe on it.