Gabriel Lopez · September 2, 2026

Can your home equity work for you?

Mortgage Market Update

My Mortgage Company

Gabriel Lopez

Wednesday, September 2, 2026

Can your home equity work for you?

Hi there, I want to share something that comes up often in my conversations with homeowners.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

Rate trend

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.


Equity & Refinancing

When does it make sense to tap your home equity?

As you build equity in your home—through payments, appreciation, or both—you gain options. Some homeowners use a cash-out refinance or home equity line to consolidate debt, fund home improvements, or handle unexpected expenses. The key question isn't whether you can access that equity, but whether doing so aligns with your goals and financial picture. Interest rates, loan terms, and how you plan to use the funds all matter. There's no one-size-fits-all answer, which is why it's worth a conversation before you decide. I'm here to walk through the numbers and help you see what makes sense for your situation.

If you've been curious about your options, let's talk through them together.

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.

Tips for Homeowners

Understanding Mortgage Points

1.

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.

2.

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.

3.

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.

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

Gabriel Lopez

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