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Mortgage Market Update
My Mortgage Company
Michael Perlman
Thursday, September 3, 2026
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Should you borrow against your home equity? |
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Hi there. This week I want to talk about a tool many homeowners have but don't always think about—and when it's actually worth using.
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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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Equity Strategy
When it makes sense to tap your home's equity
As you pay down your mortgage, you're building equity—that difference between what your home is worth and what you owe. Many homeowners don't realize they can access that equity if they need it, whether for a major repair, education costs, or consolidating debt. There are a few paths: a home equity line of credit, a home equity loan, or a cash-out refinance. Each has different terms and trade-offs, so it's worth understanding which might fit your situation. The key is borrowing thoughtfully, only when you have a clear reason and a plan to repay. If you're curious whether tapping your equity makes sense for you, I'd be happy to walk through your options.
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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
Michael Perlman
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