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Mortgage Market Update
Timothy Barbieri
Timothy Barbieri
Saturday, August 1, 2026
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How much equity have you actually built? |
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A Note From Timothy Barbieri
A quick update from our team
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Hi there—this week I'm focusing on something many homeowners overlook but shouldn't. Here's what you need to know about building and using the equity in your home.
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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. Equity is the difference between what your home is worth and what you still owe on your mortgage. It builds two ways: as you make monthly payments, you pay down the loan balance, and as your home appreciates over time. Many homeowners don't realize they can access this equity if they need it—whether for home repairs, education, or consolidating debt. Understanding your equity position is the first step to making smart decisions about your money. If you'd like to know roughly where you stand, I'm happy to walk through it with you.
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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 Timothy Barbieri team any time and we'll walk you through your options. |
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6 Wills Way, Building 2 Piscatway NJ 08854
732-476-9230 | https://www.petracephas.com/applywithtim
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