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Saturday, August 1, 2026 |
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Mortgage Market Update
How much equity have you actually built?
Hi there. This week I'm reminding borrowers to check in on one of the best parts of homeownership—the equity you're steadily building.
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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 Check
Do you know how much equity you've built?
If you've been a homeowner for a while, your home may have gained value, and your monthly payments have been chipping away at what you owe. That combination means you've likely built equity—the difference between what your home is worth and what you still owe on your mortgage. Knowing this number matters, especially if you're thinking about refinancing, taking out a home equity line, or just understanding your financial picture. A rough estimate is usually free to find, and it can open up options you didn't know you had. If you're curious where you stand, I'd be happy to help you figure it out.
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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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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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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 Jake Kornberg team any time and we'll walk you through your options.
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5060 Baker Rd Minnetonka, MN. 55345
612-396-0227
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