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Saturday, August 1, 2026 |
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Mortgage Market Update
Do you know how much equity you've built?
Hi there—this week I want to help you see a part of your finances that often goes unnoticed. Here's what you should know about home equity and why it matters.
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National Mortgage Rates · July 30, 2026
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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.
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Equity Awareness
Do you know how much equity you've built?
If you've owned your home for a few years, you may have built up meaningful equity—the difference between what your home is worth and what you still owe. Equity isn't just a number on paper. It can open doors: you might qualify for a cash-out refinance to fund a renovation, pay off debt, or handle a major expense. It also protects you. The more equity you have, the safer your financial position if the market shifts. The tricky part? Many homeowners don't actually know their number. A quick conversation with me can help you understand where you stand and whether a move makes sense for your situation right now. Let's talk about your equity and what options might work for 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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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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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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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 Jon Puente team any time and we'll walk you through your options.
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5860 Baker Road, Minnetonka, MN, 55345
269-599-3395
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