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Mortgage Market Update
My Mortgage Company
Chris Tovey
Tuesday, September 15, 2026
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What your home equity can actually do |
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Hi there,
This week I want to talk about something that often sits unused in homeowners' back pockets: equity.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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 & Refinancing
Your home's equity could work harder for you
If you've been paying your mortgage for a few years, you likely have built equity—that's the difference between what your home is worth and what you still owe. Many homeowners don't realize they can tap into that equity when they need money for home improvements, debt consolidation, or other major expenses. A cash-out refinance lets you borrow against your equity and pull out cash at closing. It's not right for everyone, and the math needs to work in your favor, but it's worth exploring if you're facing a big expense. The best time to look into it is when you have questions, not when you're already in crisis mode. I'd love to talk through whether it makes sense for your situation. If you're curious whether your equity could help you right now, let's have a quick conversation.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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2.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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3.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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
Chris Tovey
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