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Mortgage Market Update
Michael Radcliffe
The Rad CRM
Saturday, August 1, 2026
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How much equity have you actually built? |
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Hi there. Each week I share something that can help you make smarter decisions about your home and mortgage. This week: a number worth calculating.
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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 Check
Do you know how much equity you've built?
If you've owned your home for a few years, you probably have more equity than you realize. Equity is the difference between what your home is worth and what you still owe on your mortgage—and it grows two ways: as you make payments, and as your home appreciates. Knowing your equity matters because it opens doors. You might qualify for a cash-out refinance to fund home repairs or consolidate debt. You could tap into a home equity line of credit for flexibility. Or if you're thinking about selling, it's simply good to know what you're working with. A quick conversation can help you understand where you stand, no obligation. Reach out anytime—I'm happy to walk you through your equity and what it might mean for your next move.
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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 Michael Radcliffe team any time and we'll walk you through your options. |
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