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Mortgage Market Update
My Mortgage Company
Test Rey Magz
Thursday, September 3, 2026
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Three ways to tap your home equity |
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Hi there. This week I want to cover something that comes up a lot: what homeowners can actually do once they've built equity in their home.
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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 do with home equity
If you've built up equity in your home, you have options. Some people use a cash-out refinance to pull out funds for home repairs, debt payoff, or education expenses. Others open a home equity line of credit (HELOC) and draw on it as needed. A home equity loan is another route—fixed rate, fixed term, straightforward. The right choice depends on your timeline, how much you need, and what feels comfortable for your situation. These aren't decisions to rush, but they're worth understanding if you're sitting on real equity. I'd be happy to walk through how each one works and what might make sense for you. Let's talk about your equity options—reach out anytime.
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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
Test Rey Magz
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