My Mortgage Company · August 1, 2026

Do you know your home equity number?

Mortgage Market Update

My Mortgage Company

My Mortgage Company

Saturday, August 1, 2026

Do you know your home equity number?

Hi everyone. This week I want to help you take stock of something that's probably growing in the background of your finances without much fanfare.

National Mortgage Rates · July 30, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.43%

VA 30-Year

6.25%

Rate trend

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.


Equity Check

Do you know how much equity you've built?

If you've owned your home for a few years, there's a good chance you have more equity than you realize. As you make monthly payments, you're building ownership stake in your property. That equity can be useful down the road—whether you need to tap into it for major repairs, education costs, or other goals.

The tricky part is that most people don't track it. Home values shift, payoff progress compounds quietly, and suddenly you're sitting on real wealth without knowing it. I'd encourage you to take twenty minutes this week to pull your mortgage statement and think about where your home's value stands today. Knowing your equity is the first step to understanding your options.

Reach out if you'd like to review your equity position and talk about what it could mean for your finances.

Tip of the Week

Landscaping maintenance protects your home's value — overgrown yards are the number one curb appeal issue buyers notice.

Tips for Homeowners

HOA Fees and How They Affect Your Mortgage

1.

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.

2.

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.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

My Mortgage Company

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