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Mortgage Market Update
High Lakes Lending, LLC
High Lakes Lending, LLC
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. This week I want to help you see an asset you might be overlooking in your own home.
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National Mortgage Rates · July 30, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity Check
Do you know how much equity you've built?
If you've owned your home for a few years, you likely have more equity than you realize. Every mortgage payment chips away at what you owe, and many homeowners have also benefited from appreciation in their home's value. That equity can be a powerful financial tool — it opens doors to refinancing, home equity loans, or lines of credit when you need cash for renovations, education, or other goals. The challenge is that most people never calculate it. A quick conversation with me can help you understand exactly where you stand and what options might make sense for your situation. It's one of the most straightforward ways to take control of your financial picture. Let's talk about your equity and what it could mean for you.
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Tip of the Week
Landscaping maintenance protects your home's value — overgrown yards are the number one curb appeal issue buyers notice.
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Tips for Homeowners
HOA Fees and How They Affect Your Mortgage
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1.
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HOA dues are included in your debt-to-income ratio calculation when you apply for a mortgage. High HOA fees reduce how much home you can qualify for.
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2.
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Before buying in an HOA, review the financials: reserve fund balance, any pending special assessments, and recent meeting minutes. A depleted reserve fund can mean a large unexpected charge.
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3.
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HOA dues are generally not tax-deductible for a primary residence. If the home is a rental property, dues may be deductible as a business expense.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the High Lakes Lending, LLC team any time and we'll walk you through your options. |
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