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Mortgage Market Update
My Mortgage Company
Sean Price — Sean Price Lending Group
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there—this week I want to talk about something that's quietly working in your favor every single month. Whether you're new to homeownership or have been here for years, understanding your equity is a game-changer.
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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 Building
Your home is working for you every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. It's one of the most powerful wealth-building tools available to homeowners, and it happens whether you think about it or not. As you pay down your loan balance and as your home's value holds steady or appreciates, that equity grows. The longer you stay in your home, the faster it builds. Some borrowers are surprised to learn how much equity they've accumulated after just a few years, and that equity can become useful later—for home improvements, as a safety net, or even as a springboard for your next move. I'd be happy to walk you through where your equity stands and what options might be available to you. Reach out and we can talk about how much equity you've built so far.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Sean Price — Sean Price Lending Group
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