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Mortgage Market Update
Chris Bice Chris Bice
Chris Bice
Sunday, September 13, 2026
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How much equity do you have built up? |
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September is a good time to pause and take stock of where you stand with your mortgage. This week I want to talk about something that often gets overlooked: your growing equity.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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
Your home is working for you every month
Every mortgage payment you make builds equity — that's the portion of your home's value you actually own. Over time, as you pay down your loan balance, that equity grows. It's different from rent, where monthly payments go to a landlord. With a mortgage, you're building an asset. Many homeowners don't realize how much equity they've accumulated until they need it — whether that's for a home improvement, to help a family member, or to refinance at better terms. If you've owned your home for a few years, it's worth sitting down and understanding what your equity position looks like today. I'd be happy to walk you through your current equity and explore what options that might open up for you.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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2.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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 Chris Bice Chris Bice team any time and we'll walk you through your options. |
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