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Mortgage Market Update
Johnny DuRocher
Johnny DuRocher
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. This week I'm thinking 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 Check
How much home equity are you sitting on?
If you've owned your home for a few years, you've likely built more equity than you realize. Every mortgage payment chips away at what you owe, and if your home has appreciated, that's equity too. Knowing your number matters because it opens doors — you might qualify for a home equity line of credit, consider a cash-out refinance, or simply understand your net worth better. I'd encourage you to pull your last mortgage statement and do a quick calculation: your home's current value minus what you still owe. Not sure about the current value? I can help with that conversation. Let's talk about what your equity 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 Johnny DuRocher team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150 Chandler AZ 85286
https://johnnydurocher.theradcrm.com/home
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