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Mortgage Market Update
My Mortgage Company
Fully Scale
Wednesday, September 2, 2026
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What you should know about borrowing against equity |
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Hi there. I wanted to touch on something many homeowners overlook until they need it—the equity sitting in their home.
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National Mortgage Rates · August 27, 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 & Borrowing
Your home equity is real money you can use
As you pay down your mortgage, you're building equity—the difference between what your home is worth and what you owe on it. That equity isn't just a number on paper. Depending on how much you've built up, you may be able to borrow against it through a home equity loan or line of credit when life calls for it—whether that's a major repair, education, or consolidating other debt. The rates on these products are often competitive, and the interest may be tax-deductible. Before you need the money is the time to understand what you have available. I'd be happy to walk you through your options and what borrowing against equity might look like for your situation. Reach out anytime you'd like to talk through your equity and what it could do for you.
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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.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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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.
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2.
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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.
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3.
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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.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Fully Scale
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