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Mortgage Market Update
Kris Rich
Kristen Rich
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there—this week I want to talk about something a lot of homeowners overlook: the equity they've already earned.
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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 Building
How much equity are you sitting on right now?
If you've owned your home for a few years, you're likely building equity faster than you realize. Every mortgage payment chips away at what you owe, and if your home has appreciated, that's equity too. Knowing your equity matters because it can open doors—whether you're thinking about a cash-out refinance, a home equity line of credit, or just curious about your net worth. The tricky part is that many homeowners never check. If it's been a while since you had your home valued or reviewed your loan balance, now might be a good time. I'd be happy to walk you through where you stand and what your options might look like. Reach out if you'd like to review your equity and explore what it means for your financial picture.
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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 Kris Rich team any time and we'll walk you through your options. |
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