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Mortgage Market Update
Major Singleton
Major Singleton
Saturday, August 1, 2026
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You might have more equity than you think |
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Hi there. This week I want to talk about something that builds quietly in the background of homeownership: equity. It's one of the most powerful tools available to you, and I'm guessing you haven't checked on it in a while.
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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 Building
You might have more equity than you think
Every mortgage payment you make builds equity in your home—that's the difference between what your house is worth and what you still owe. Over time, this adds up faster than most people realize. If you bought a few years ago, or if your home's value has shifted in your area, your equity position may have changed significantly. That equity can open doors: refinancing options, home improvement financing, or even flexibility if life circumstances change. The first step is understanding where you stand. I'd be happy to pull a quick equity check for you—it takes just a few minutes and might reveal more opportunity than you expect. Reach out this week and let's see what your home equity looks like.
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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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1.
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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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2.
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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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3.
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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 Major Singleton team any time and we'll walk you through your options. |
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