Craig Heitz · November 6, 2026

Do you know how much equity you have?

Mortgage Market Update

Craig Heitz

Craig Heitz

Friday, November 6, 2026

Do you know how much equity you have?

Home ownership builds wealth over time in ways that aren't always obvious. Understanding your equity is a big part of that picture.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey

Rates shown are national mortgage index rates 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.


Equity & Access

How home equity can work for you

As you pay down your mortgage and your home's value can change, you build equity—that's the difference between what your home is worth and what you still owe. Many homeowners forget this is a real financial asset sitting right there.

That equity can be tapped for big expenses, home improvements, or even debt consolidation through a home equity loan or line of credit. It's not free money, and borrowing against your home does carry risk, but understanding what you have available is smart planning. The sooner you know your position, the sooner you can make intentional decisions about your money. Let's talk about what your equity picture looks like and whether it makes sense to explore your options.

Reach out anytime you'd like to go over your home's current equity and what you might do with it.

Tip of the Week

Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.

Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.

2.

Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.

Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Craig Heitz team any time and we'll walk you through your options.

Your Mortgage Advisor

C

Craig Heitz

Craig Heitz

cheitz@power-lending.com

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