Hema Konki · August 1, 2026

How much equity have you actually built?

Mortgage Market Update

Hema Konki

Hema Konki

Saturday, August 1, 2026

How much equity have you actually built?

Hello, This week I'm thinking about one of the easiest money moves homeowners overlook—understanding the equity they've already earned.

National Mortgage Rates · July 30, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.43%

VA 30-Year

6.25%

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 Check

How much equity have you actually built?

If you've owned your home for a few years, you're likely sitting on more equity than you realize. Every mortgage payment chips away at what you owe, and home values in most markets have moved meaningfully since purchase. That equity can be a financial resource—whether you're thinking about a cash-out refinance for renovations, paying down debt, or building flexibility into your financial picture.

Knowing your actual equity position is the first step. It's worth taking an afternoon to pull your last appraisal or estimate your home's current value, then subtract what you still owe. If you're curious about what options might make sense for your situation, I'd be glad to walk through them with you.

Reach out if you'd like to talk through your equity and what it could mean for your financial goals.

Tip of the Week

Landscaping maintenance protects your home's value — overgrown yards are the number one curb appeal issue buyers notice.

Tips for Homeowners

HOA Fees and How They Affect Your Mortgage

1.

HOA dues are included in your debt-to-income ratio calculation when you apply for a mortgage. High HOA fees reduce how much home you can qualify for.

2.

Before buying in an HOA, review the financials: reserve fund balance, any pending special assessments, and recent meeting minutes. A depleted reserve fund can mean a large unexpected charge.

3.

HOA dues are generally not tax-deductible for a primary residence. If the home is a rental property, dues may be deductible as a business expense.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Hema Konki team any time and we'll walk you through your options.

Your Mortgage Advisor

H

Hema Konki

Hema Konki

hkonki@canopymortgage.com

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