John Hersperger · August 27, 2026

How much equity do you have right now?

Mortgage Market Update

My Mortgage Company

John Hersperger

Thursday, August 27, 2026

How much equity do you have right now?

Hi there—this week I want to cover something many homeowners overlook: the equity they've already built into their homes. Understanding it can lead to smarter financial decisions.

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 Basics

Your home's equity is real money—here's why it matters

As you make mortgage payments, you're building equity—the difference between what your home is worth and what you still owe. Over time, that number grows, and it becomes a genuine financial asset. Many homeowners don't realize how much equity they've accumulated, or what they can do with it. Whether you're thinking about a major home project, consolidating debt, or just want to understand your financial picture better, knowing your equity is the first step. I've helped clients tap into their equity strategically, and it often opens doors they didn't know existed. Let's talk about where you stand and what might make sense for your situation.

If you'd like to get a quick estimate of your home's equity, I'm happy to walk through it with you.

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

John Hersperger

You are receiving this from John Hersperger.  Unsubscribe