Scott Obermeyer · September 3, 2026

How much equity do you have?

Mortgage Market Update

My Mortgage Company

Scott Obermeyer

Thursday, September 3, 2026

How much equity do you have?

Hi there. I wanted to touch base about something that grows quietly in the background of homeownership: your equity.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.56%

VA 30-Year

6.40%

Rate trend

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.


Equity Building

Your mortgage is working for you

Every payment you make builds equity in your home—that's ownership stake that belongs to you, not your lender. Over time, as you pay down your loan balance and your home's value changes, that equity grows. It's one of the most powerful wealth-building tools available to homeowners, and it happens whether you're thinking about it or not.

Understanding your equity matters because it opens doors: you may qualify for a home equity line of credit, use it to fund renovations, or tap it strategically if your financial needs change. The stronger your equity position, the more flexibility you have. If you'd like to know where you stand or explore what your equity could do for you, I'm here to walk through it.

Reach out anytime—I'd be happy to discuss your equity and what options might make sense for your situation.

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.

Tips for Homeowners

Jumbo Loans: What They Are and How They Work

1.

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.

2.

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.

3.

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.

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

Scott Obermeyer

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