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Mortgage Market Update
My Mortgage Company
Kris Wootton
Thursday, September 3, 2026
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What's your home equity worth to you? |
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Hey there—this week I want to circle back to something I mentioned recently, but from a different angle. Your home equity is more than just a good sign; it's an option.
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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 the equity in your home
If you've been a homeowner for a few years, there's a good chance you've built up meaningful equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper; it's a real financial resource you can tap into when life happens. Whether you're facing unexpected expenses, planning a major home improvement, or thinking strategically about your finances, understanding your options matters. I'd love to walk you through what's possible and help you figure out whether tapping into your equity makes sense for your situation right now. Let's talk about your equity and what it could mean for your goals.
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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
Kris Wootton
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