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Mortgage Market Update
My Mortgage Company
Erica Portillo-Nuno
Thursday, September 3, 2026
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Should you borrow against your home equity? |
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Hi there—this week I'm talking about a question I hear often from homeowners sitting on built-up equity. It's worth a real conversation.
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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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Smart Borrowing
When a cash-out refi makes sense
If you've built equity in your home, you might be wondering whether to tap into it. A cash-out refinance lets you borrow against that equity, turning it into cash you can use for home repairs, debt payoff, or other goals. The key is understanding the tradeoff: you're extending your loan term and taking on new interest costs, so it only works when the math truly benefits you. Before you decide, it's worth running the numbers with someone who knows your full picture—your current rate, your goals, and what refinancing would actually cost you month to month. I'm here to walk through the real numbers so you can make a choice you feel confident about. If you're curious whether a cash-out refi could work for you, I'd love to explore it together.
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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
Erica Portillo-Nuno
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