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Mortgage Market Update
My Mortgage Company
Elias Espejo
Thursday, September 3, 2026
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What your home equity could do for you |
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Hi there. This week I want to talk about something many homeowners overlook: the real value of the equity they've built.
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National Mortgage Rates · August 27, 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 & Cash-Out
Building equity? Here's what it could mean for you
If you've owned your home for a while, you've likely built up equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. Depending on your situation, it can become a tool for major expenses, home improvements, debt consolidation, or other financial goals. The key is understanding what you qualify for and whether tapping into it makes sense for your specific needs right now. I'd be happy to walk you through your options and what the numbers might look like. Let's talk about whether your equity could work for you—just reach out.
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Tip of the Week
Schedule a plumber to inspect older homes for slow leaks — water damage is expensive and often hidden until it's serious.
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Tips for Homeowners
Jumbo Loans: What They Are and How They Work
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1.
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A jumbo loan exceeds the conforming loan limit set by the FHFA — $766,550 in most areas for 2024, higher in designated high-cost markets. These loans can't be sold to Fannie Mae or Freddie Mac.
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2.
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Jumbo loans typically require stronger credit (often 700+), larger down payments (10–20%), and more cash reserves. Underwriting is more thorough and can take longer.
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3.
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Rates on jumbo loans are sometimes comparable to or even lower than conforming rates, depending on market conditions. Don't assume a jumbo loan means a worse deal — shop lenders.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Elias Espejo
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