Carlos Scarpero · November 3, 2026

What equity in your home can actually do

Mortgage Market Update

My Mortgage Company

Carlos Scarpero

Tuesday, November 3, 2026

What equity in your home can actually do

Every payment you make builds ownership. Let's talk about what that actually means for you.

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 Unlocked

What your home's value means for your finances

If you've owned your home for a few years, there's a good chance you've built equity—the difference between what your home is worth and what you still owe. That equity isn't just a number on paper. It can become real money through a cash-out refinance or a home equity line of credit, which you could use for home improvements, consolidating debt, or other financial goals.

The tricky part is knowing whether tapping that equity makes sense for your situation right now. Interest rates, your current loan terms, and what you actually need the money for all factor into the decision. It's worth exploring, especially if you've been in your home long enough to build meaningful equity.

If you're curious whether this might work for you, I'd love to walk through the numbers and talk through your options.

Reach out and we can run through what your equity could actually do for you.

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

Carlos Scarpero

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