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Mortgage Market Update
My Mortgage Company
Eddie Berengue — Edge Home Finance
Saturday, August 1, 2026
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How much equity have you actually built? |
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This week we're talking about something many homeowners overlook: the wealth they're quietly building every month. Let me show you what that could mean for you.
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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
Do you know how much equity you've built?
If you've been paying your mortgage for a year or more, you've likely built more equity than you realize. Every payment chips away at what you owe, and if your home has appreciated, that's equity too. Knowing your number matters—it opens doors. You might qualify for a cash-out refinance to fund home repairs or a child's education. You could tap it for a home equity line of credit. Or if you're thinking about selling, it's the foundation of your down payment on your next home. The first step is simple: let's pull together what you owe and what your home is worth today. I can walk you through what that equity means for your options. Reach out this week and let's figure out your equity position—it might surprise 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Eddie Berengue — Edge Home Finance
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