Stephanie Washington — Stephanie Washington · November 6, 2026

Turning your home equity into options

Mortgage Market Update

My Mortgage Company

Stephanie Washington — Stephanie Washington

Friday, November 6, 2026

Turning your home equity into options

Every mortgage payment you make builds wealth. I want to help you understand how to use it.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

Source: Optimal Blue daily mortgage indices via FRED

Rates shown are national mortgage index rates 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.


Equity & Borrowing

What your home's value means for your wallet

As a homeowner, you're building equity every month—through your mortgage payments and, often, through your home's value over time. That equity can become real money when you need it. If life brings a big expense—a roof, medical bills, education costs—you have options that renters don't. A home equity loan or line of credit lets you tap into what you've already built, often at better terms than other borrowing. The catch: it's important to borrow thoughtfully and understand what you're committing to. I help people figure out whether accessing their equity makes sense for their situation, what it costs, and how it fits into their bigger financial picture. If you're wondering whether your home's value could work for you, let's talk about it.

Curious how much equity you might have? Reach out and we can explore your options.

Tip of the Week

Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.

Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.

2.

Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.

Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.

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.

Your Mortgage Advisor

M

My Mortgage Company

Stephanie Washington — Stephanie Washington

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