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Mortgage Market Update
My Mortgage Company
Robert Kelly
Thursday, September 3, 2026
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Three ways to use your home equity |
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Hi there—I've noticed a lot of homeowners aren't sure what options they have once they've built up equity in their home. Let me break down the possibilities.
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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 actually do with your home equity
If you've been a homeowner for a few years, you've likely built up equity—the difference between what your home is worth and what you owe on your mortgage. That's real value sitting in your property, and it can work for you in several ways. Some homeowners tap into it through a cash-out refinance or a home equity line of credit to fund renovations, pay off debt, or cover major expenses. Others simply let it grow as a long-term wealth builder. The right choice depends on your goals, interest rates, and financial picture. I'd love to talk through what makes sense for your situation and whether any of these options might be worth exploring. Let's discuss whether tapping into your equity could help you reach your financial goals.
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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
Robert Kelly
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