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Mortgage Market Update
Ken Graczak
Ken Graczak
Thursday, September 10, 2026
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Picking the right loan type for your situation |
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A Note From Ken Graczak
Fall Is Coming, We're Here If You Need Us
Most families are back into the school year routine by now, backpacks, schedules, the whole thing. Fall's right around the corner too, and it's usually when people start thinking more seriously about buying, refinancing, or just figuring out what makes sense for their situation.
If you're weighing a move, wondering about your rate, or just want a straight answer before you decide anything, reach out. No pressure, just good advice whenever you need it.
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Hi there. This week I want to walk you through one of the biggest decisions you'll make as a borrower—and it's not always the one people focus on first.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.51%
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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.
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Loan Programs
Choosing between loan types matters more than you think
When you're ready to buy or refinance, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA tossed around. Each one works differently and affects your costs, flexibility, and peace of mind over time. The right choice depends on your situation—how long you plan to stay in the home, your comfort with payment changes, and what you qualify for. I've seen borrowers pick a loan type without really understanding the trade-offs, then regret it later. A few minutes spent understanding your options now can mean real savings and fewer surprises down the road.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Ken Graczak team any time and we'll walk you through your options. |
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8120 Penn Ave S. Suite 100C, Bloomington, MN 55431
612-324-8454 | https://kengraczak.com
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