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Mortgage Market Update
Major Singleton
Major Singleton
Thursday, September 3, 2026
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What can you do with your home equity? |
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Hi there — I've been thinking about home equity this week and wanted to share some ideas on how it works and when it might help you reach a financial goal.
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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 been a homeowner for a while, you're likely building equity with each mortgage payment — plus any appreciation in your home's value. That equity can be a powerful financial tool. Some people use it to fund home improvements, consolidate debt, or cover major expenses without taking on new unsecured debt. Others access it through a home equity line of credit or cash-out refinance when the time is right. The key is understanding what options exist and whether any of them align with your financial goals right now. Every situation is different, and the right move depends on your timeline, interest rates, and what you're trying to accomplish. I'd love to walk through what's possible in your specific case. Let's talk about whether tapping your equity makes sense for you.
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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 Major Singleton team any time and we'll walk you through your options. |
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