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Mortgage Market Update
Sara Getchell
Sara Getchell
Thursday, September 3, 2026
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Building equity? Here's what you can do with it |
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Hi — I hope you're doing well. This week I want to cover something that comes up a lot with homeowners who've been building equity over time.
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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
How to tap your home's equity without starting over
If you've built equity in your home over time, you have options that don't require selling or refinancing into a brand-new 30-year loan. A cash-out refinance lets you borrow against that equity, but so do home equity lines and loans — each with different terms, rates, and payment structures. The right choice depends on how much you need, how you plan to use it, and what works with your budget. Whether you're funding home improvements, consolidating debt, or covering a major expense, it's worth understanding which path makes the most sense for your situation. I'm happy to walk you through how each works and what you might qualify for. 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 Sara Getchell team any time and we'll walk you through your options. |
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