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Mortgage Market Update
My Mortgage Company
Rowley RV - PHX
Thursday, September 3, 2026
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What to do once you've built home equity |
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We talk a lot about building equity, but the other side of that question matters too. Today I want to cover the practical moves available to you once you have it.
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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 101
What you can do with equity once you have it
Building equity in your home is great—but it's only useful if you know your options. Once you've accumulated some equity, you can tap into it through a cash-out refinance, a home equity line of credit, or a home equity loan. Each works differently and makes sense in different situations: maybe you're funding a renovation, consolidating debt, or covering an unexpected expense. The key is understanding which tool fits your goal and your timeline. If you've been in your home a few years, this might be worth exploring. I'd be happy to walk through what's realistic for your situation and what it might cost. Let's talk about whether tapping your equity makes sense for you right now.
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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
Rowley RV - PHX
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