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Mortgage Market Update
Beau Benjamin
Beau Benjamin
Sunday, September 6, 2026
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What you can do with your home's equity |
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Hello! This week I want to touch on something that many homeowners forget about until they need it: the equity you've been building.
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National Mortgage Rates · September 3, 2026
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Conventional 30-Year
6.71%
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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 & Access
Your home's equity can open doors
If you've been in your home for a few years, you've likely built up equity—the difference between what your home is worth and what you owe on the mortgage. That equity isn't just a number on paper. It can be a real tool when you need it: whether you're facing unexpected expenses, planning a major home project, or thinking about your next move. There are several ways to tap into your equity if the time comes, and each has its own pros and cons depending on your situation. The best move depends on your timeline, how much you need, and what makes sense for your long-term finances. I'd love to walk you through your options and help you think through what might work for your household. Let's talk about what your equity could mean for you—give me a call or shoot me an email.
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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 Beau Benjamin team any time and we'll walk you through your options. |
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