The Bank With Will Team · August 27, 2026

How much equity are you sitting on?

Mortgage Market Update

My Mortgage Company

The Bank With Will Team

Thursday, August 27, 2026

How much equity are you sitting on?

Hello, This week I want to talk about something a lot of homeowners overlook until they need it.

National Mortgage Rates · August 20, 2026

30-Year Fixed

6.65%

FHA 30-Year

6.53%

VA 30-Year

6.32%

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 Awareness

Do you know how much equity you have?

If you've owned your home for a few years, you likely have more equity than you realize. Equity is the difference between what your home is worth and what you still owe on your mortgage. As you make monthly payments and your home appreciates, that equity grows—and it can become a useful financial tool when you need it.

Whether you're thinking about a major home project, consolidating debt, or just want to understand your financial position better, knowing your equity is the first step. I can help you get a clear picture of where you stand and explore options if tapping into that equity makes sense for your situation.

If you'd like a quick equity check and no-obligation conversation about your options, I'm here to help.

Tip of the Week

Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.

Tips for Homeowners

Understanding Mortgage Points

1.

One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.

2.

Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.

3.

Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.

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.

Your Mortgage Advisor

M

My Mortgage Company

The Bank With Will Team

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