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Mortgage Market Update
My Mortgage Company
Michael Radcliffe
Thursday, September 3, 2026
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Do you know how much equity you have? |
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Hi there—this week I want to focus on something that often gets overlooked: the equity in your home. It's one of the most powerful financial tools you have as a homeowner, and most people don't think about it nearly enough.
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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 Awareness
What your home equity can do for you
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you still owe on your mortgage. This equity is real money, and it can work for you in meaningful ways. Some homeowners tap into it through refinancing or a home equity line of credit to fund renovations, consolidate debt, or handle unexpected expenses. Others simply let it grow as part of their long-term wealth. The key is knowing it's there and understanding your options. Whether you're thinking about a big project or just curious about your financial flexibility, I'd be happy to walk you through what makes sense for your situation. Let's talk about how much equity you might have and what you could do with it.
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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
Michael Radcliffe
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