Len Padilla · August 27, 2026

What your home equity can do for you

Mortgage Market Update

My Mortgage Company

Len Padilla

Thursday, August 27, 2026

What your home equity can do for you

Hi there. This week I want to talk about one of the most powerful aspects of homeownership—and one that often goes overlooked.

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 Building

Your home is working for you—here's how

Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this grows into real financial strength. Beyond the monthly payments, home values themselves can appreciate, and if you've been in your home for a few years, you may have more equity than you realize. This matters because equity can become a tool: it opens doors to refinancing options, home equity lines, or even putting that value toward your next move. The longer you own, the more this compounds in your favor.

If you've been wondering whether your equity position has changed, or what it might mean for your options down the road, I'd love to walk through it with you. Sometimes a simple conversation is all it takes to see what's possible.

Get in touch if you'd like to talk through your equity and what it could mean for your financial picture.

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

Len Padilla

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