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Mortgage Market Update
ANDREW I
Andrew I Karam
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there,
This week I'm thinking about one number a lot of homeowners overlook: the equity they've already built.
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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
How much home equity are you sitting on?
If you've owned your home for a few years, you've likely built up equity through monthly payments—and possibly through appreciation in your area. That equity is real money, and it can work for you in a few ways: a cash-out refinance to fund home repairs or consolidate debt, a home equity line of credit for flexibility, or simply peace of mind knowing your stake in the property is growing. The tricky part is knowing what your home is actually worth today and how much you owe. I'd recommend getting a current estimate of your home's value and pulling your loan balance from your latest statement. Once you have those two numbers, you can see exactly where you stand. If you're curious whether your equity might open up some useful options, I'm here to walk through what makes sense for your situation. Reach out if you'd like help calculating your equity or exploring what you might do with it.
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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 ANDREW I team any time and we'll walk you through your options. |
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