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Mortgage Market Update
Jessica Firmiano
Jessica Firmiano
Saturday, August 1, 2026
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How much equity have you built? |
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Hi there—this week we're looking at one of the most overlooked financial assets homeowners have: the equity they've quietly built up over time.
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National Mortgage Rates · July 30, 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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Equity Check
Do you know how much equity you've built?
If you've owned your home for a few years, you're likely sitting on more equity than you realize. Every mortgage payment builds it—and so do home value increases in your area. That equity can unlock real financial opportunities: a cash-out refinance to fund home improvements, pay off higher-interest debt, or cover a major expense. Or it might make you a stronger candidate for a new loan if you're thinking about upgrading or investing. The tricky part is knowing what you actually have to work with. A quick conversation can show you the numbers and whether tapping into that equity makes sense for your situation right now.
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Tip of the Week
Landscaping maintenance protects your home's value — overgrown yards are the number one curb appeal issue buyers notice.
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Tips for Homeowners
HOA Fees and How They Affect Your Mortgage
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1.
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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.
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2.
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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.
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3.
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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.
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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 Jessica Firmiano team any time and we'll walk you through your options. |
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6 Wills Way, Piscataway, NJ 08854
(908) 656-3886 | https://petracephasinc.theradcrm.com/
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