Kaleb Melville — Kaleb Melville · August 1, 2026

How much equity have you actually built?

Mortgage Market Update

My Mortgage Company

Kaleb Melville — Kaleb Melville

Saturday, August 1, 2026

How much equity have you actually built?

Hi there. This week I want to talk about something a lot of homeowners overlook until they need it—the equity sitting in your home.

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 & Refinancing

What your home equity means right now

If you bought a few years ago, there's a good chance your home is worth more than your mortgage balance—that difference is your equity. It's real money you've built, and depending on how much you have, it can open doors: a cash-out refinance to fund a project, a home equity line of credit for emergencies, or simply peace of mind knowing you own more of your home each month.

The tricky part? Knowing how much equity you actually have takes a honest look at your home's current value and what you still owe. I help clients figure this out all the time, and it often surprises them in a good way. If you're curious where you stand, I'd be happy to walk through the numbers with you—no pressure, just clarity.

Reach out if you'd like to talk through your equity options and what makes sense for your situation.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

M

My Mortgage Company

Kaleb Melville — Kaleb Melville

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