Daniel Bellomy · November 3, 2026

Home equity: what you should know

Mortgage Market Update

Daniel Bellomy

Daniel Bellomy

Tuesday, November 3, 2026

Home equity: what you should know

Hi there. One of the best things about building home equity is that it gives you choices when life happens.

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

Your home's equity is real money you can access

A lot of homeowners don't realize how much financial flexibility they've built into their home over time. As you pay down your mortgage and your home appreciates, you accumulate equity—and that equity can be a powerful tool when you need it.

Whether you're facing an unexpected expense, planning a renovation, or consolidating debt, you may have options to borrow against what you've already built. The sooner you understand what you have available and what borrowing might cost, the better decisions you can make. I'm here to walk you through what's realistic for your situation, no pressure, just information.

Let's talk about what equity you might have and what your options look like.

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 Daniel Bellomy team any time and we'll walk you through your options.

Your Mortgage Advisor

D

Daniel Bellomy

Daniel Bellomy

dbellomy@power-lending.com

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