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Mortgage Market Update
Next Level Lending MN
Next Level Lending MN
Saturday, August 1, 2026
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How much home equity do you actually have? |
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Home equity isn't abstract—it's real money you've earned through payments and market gains. Here's what you should know about tapping into it.
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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 owned your home for a few years, you're likely sitting on more equity than you realize. Every mortgage payment chips away at what you owe, and home values in most markets have moved favorably. That equity can matter in several ways: it opens doors to refinancing if rates drop, it can fund a home improvement project, or it becomes leverage if you're thinking about your next move. The tricky part? Most homeowners guess. A quick conversation can tell you exactly where you stand—no guessing required. If you're curious about your position or wondering whether a cash-out refinance makes sense for you right now, I'd love to take a look. Reach out anytime you'd like a no-pressure equity check.
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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 Next Level Lending MN team any time and we'll walk you through your options. |
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