Jake McDonald · August 1, 2026

How much home equity have you actually built?

Mortgage Market Update

Jake McDonald

Jake McDonald

Saturday, August 1, 2026

How much home equity have you actually built?

Hi there. This week I want to talk about something that quietly works in your favor every single month: building equity in your home.

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 Building

You might have more home equity than you think

Every mortgage payment you make builds equity—that's the portion of your home's value you actually own. As you pay down your loan balance and your home appreciates over time, that equity grows. It's one of the best financial moves you can make without doing anything extra.

Why does this matter? Equity gives you options. You might tap into it for major expenses, fund home improvements, or refinance into a better loan. The more equity you have, the more flexibility you gain. If you're not sure how much equity you've built, I'd love to help you run the numbers. It might be higher than you realize.

Reach out if you'd like me to take a look at your equity position and explore what it could mean for you.

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 Jake McDonald team any time and we'll walk you through your options.

Your Mortgage Advisor

J

Jake McDonald

Jake McDonald

jakemcdonald@canopymortgage.com

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