Mortgage Market Update

Bright Mortgage

Saturday, August 1, 2026

Do you know how much equity you have?

Hi there, I hope things are going well. This week I'm thinking about homeowners who might be sitting on more opportunity than they realize.

National Mortgage Rates · July 30, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.43%

VA 30-Year

6.25%

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 & Refinancing

Your home's equity might be worth more than you think

If you bought a few years ago or have been paying down your mortgage steadily, you may have built more equity than you realize. That equity can open doors—whether you need cash for home repairs, education, or other goals, or you're curious about what a refinance might do for your monthly payment.

The tricky part is knowing what your home is actually worth today and how much equity you can safely tap into. That's where a conversation with me comes in. I can help you understand your options, run the numbers on a refi, and figure out whether now is the right time to make a move.

Let's take a look at your situation—reach out and we can walk through what your equity means 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 Bright Mortgage team any time and we'll walk you through your options.

Your Mortgage Advisor

Bright Mortgage

info@brightmortgage.com

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