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Mortgage Market Update
Jill Underwood
Your Mortgage Queen LLC
Saturday, August 1, 2026
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How much equity have you built? |
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Every mortgage payment moves money from your lender's pocket into yours. This week, let's talk about what that actually means for your net worth.
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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 have you built?
If you've owned your home for a few years, you're likely sitting on more equity than you realize. Every mortgage payment you make builds it—and so do home price increases in your area. That equity is real wealth, and it can work for you in a few ways: it reduces what you owe, it lowers your loan-to-value ratio (which matters if you ever refinance), and it can be tapped for major expenses through a home equity line or loan if you ever need it. The sooner you understand your current equity position, the better decisions you can make about your mortgage and your home. I'd be happy to walk you through what you've built so far. Send me a message or call—I can give you a clear picture of your equity in just a few minutes.
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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 Jill Underwood team any time and we'll walk you through your options. |
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410 SE 3rd Street, Suite C-109, Lees Summit, MO 64063
(913) 915-0150 | yourmortgagequeen.net
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