Scott Obermeyer · September 2, 2026

How much equity do you have?

Mortgage Market Update

My Mortgage Company

Scott Obermeyer

Wednesday, September 2, 2026

How much equity do you have?

Hi there. I wanted to touch base about something that grows quietly in the background of homeownership: your equity.

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 Building

Your mortgage is working for you

Every payment you make builds equity in your home—that's ownership stake that belongs to you, not your lender. Over time, as you pay down your loan balance and your home's value changes, that equity grows. It's one of the most powerful wealth-building tools available to homeowners, and it happens whether you're thinking about it or not.

Understanding your equity matters because it opens doors: you may qualify for a home equity line of credit, use it to fund renovations, or tap it strategically if your financial needs change. The stronger your equity position, the more flexibility you have. If you'd like to know where you stand or explore what your equity could do for you, I'm here to walk through it.

Reach out anytime—I'd be happy to discuss your equity and what options might make sense for your situation.

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

Scott Obermeyer

You are receiving this from Scott Obermeyer.  Unsubscribe