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Mortgage Market Update
Michael Medina
Michael Medina
Thursday, September 3, 2026
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Your home equity: what you can do with it |
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Hi there. We've covered how much equity you've built—now let's talk about what you can actually do with 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
When it makes sense to borrow against your home
If you've owned your home for a few years, you're likely sitting on some equity—the difference between what your home is worth and what you still owe. That equity can be a useful financial tool when you need cash for big expenses: home repairs, education, consolidating debt, or other priorities. A home equity line or loan lets you tap that value without selling. The key is borrowing with intention and making sure the payment fits your budget. It's not free money, but it's often available at a reasonable cost if you've built solid equity and maintained decent credit. Whether it's the right move depends entirely on your situation and what you're using it for. If you're curious whether you have equity to work with and what borrowing options might look like for you, let's talk.
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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 Michael Medina team any time and we'll walk you through your options. |
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