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Mortgage Market Update
My Mortgage Company
Danielle H Fahy
Thursday, September 3, 2026
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What can you actually do with home equity? |
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Hi there. This week I want to cover a topic that comes up often once homeowners have built some real wealth in their property.
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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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Home Equity
What you can do with home equity
If you've built up equity in your home over time, you have options. Some homeowners tap into it through a cash-out refinance or a home equity line of credit to fund home improvements, consolidate debt, or cover major expenses. Others simply hold it as a financial cushion. The right choice depends on your goals, your timeline, and what makes sense for your situation. Before you decide anything, it helps to understand what's available to you and how each option works. I'm here to walk you through the possibilities without any pressure. Let's talk about whether tapping your equity makes sense for you right now.
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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
Danielle H Fahy
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