Stephanie Washington — Stephanie Washington · November 3, 2026

Turning your home equity into options

Mortgage Market Update

My Mortgage Company

Stephanie Washington — Stephanie Washington

Tuesday, November 3, 2026

Turning your home equity into options

Every mortgage payment you make builds wealth. I want to help you understand how to use it.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

Rate trend

Source: Optimal Blue daily mortgage indices via FRED

Rates shown are national mortgage index rates 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.


Equity & Borrowing

What your home's value means for your wallet

As a homeowner, you're building equity every month—through your mortgage payments and, often, through your home's value over time. That equity can become real money when you need it. If life brings a big expense—a roof, medical bills, education costs—you have options that renters don't. A home equity loan or line of credit lets you tap into what you've already built, often at better terms than other borrowing. The catch: it's important to borrow thoughtfully and understand what you're committing to. I help people figure out whether accessing their equity makes sense for their situation, what it costs, and how it fits into their bigger financial picture. If you're wondering whether your home's value could work for you, let's talk about it.

Curious how much equity you might have? Reach out and we can explore your options.

Tip of the Week

Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.

Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.

2.

The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.

3.

There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.

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.

Your Mortgage Advisor

M

My Mortgage Company

Stephanie Washington — Stephanie Washington

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