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Mortgage Market Update
Collin Johnson
Collin Johnson
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there—this week I want to touch on something a lot of homeowners overlook, even though it could matter to their finances. It's equity, and it's worth understanding.
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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
Do you know how much equity you have?
If you've been paying your mortgage for a while, you're likely sitting on more equity than you realize. Equity is the difference between what your home is worth and what you still owe on the loan—and it can open doors. Some borrowers use it to refinance into better terms, others tap it for major expenses without taking on credit card debt, and some build it strategically over time as part of their wealth plan. The challenge is most people don't actually know their number. A quick conversation about your home's current value and your loan balance can give you real clarity on what options might make sense for your situation. I'd be happy to walk through it with you—no obligation, just information. Reach out if you'd like to get a clear picture of your equity and what it could mean for 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 Collin Johnson team any time and we'll walk you through your options. |
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