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Mortgage Market Update
Dave Medina
The Alevate Group/CMG Home Loans
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 circle back to something that deserves more attention than it usually gets: your home equity and why it matters right now.
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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
You might have more equity than you think
Every mortgage payment you make builds equity—the part of your home you actually own. As you pay down your loan balance and your home holds or gains value, that equity grows. It's one of the most powerful wealth-building tools homeownership offers, and many people underestimate how much they've accumulated over just a few years. Knowing your equity matters because it opens doors: you may qualify for a cash-out refinance, a home equity line of credit, or simply have a clearer picture of your net worth. If you haven't checked your equity position in a while, now's a good time. I'd be happy to run the numbers with you and show you what you've actually built.
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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 Dave Medina team any time and we'll walk you through your options. |
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28780 Single Oak Drive, Suite 250, Temecula, Ca 92590
951-858-4761 | https://www.cmgfi.com/team/Alevate-Group
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