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Mortgage Market Update
Option Mortgage
Option Mortgage
Saturday, August 1, 2026
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How much equity have you built in your home? |
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Hi there. This week I'm talking about something a lot of homeowners overlook: the equity you've been quietly building.
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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
How much equity are you sitting on right now?
If you bought a home a few years ago, you've likely built more equity than you realize. Every mortgage payment chips away at what you owe, and if your home's value has held steady or grown, that's extra equity working for you. Some borrowers don't think about this until they need it—but knowing your equity position can open doors. You might have enough to tap into a home equity line of credit for renovations, debt consolidation, or other goals. Or if you're thinking about selling or refinancing, your equity is a crucial number to understand. The best part: it's free to find out where you stand. I'd be happy to run the numbers with you and show you what your equity position looks like today. Let's calculate your equity—reach out for a quick conversation.
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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 Option Mortgage team any time and we'll walk you through your options. |
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