|
Mortgage Market Update
My Mortgage Company
John Schaff
Wednesday, September 16, 2026
|
Why your loan type matters more than you think |
|
Hi there. This week I want to cover something that doesn't get enough attention: the different kinds of mortgages available to you, and why picking the right one is just as important as getting a good rate.
|
|
National Mortgage Rates · September 10, 2026
|
Conventional 30-Year
6.76%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
|
|
|
Loan Programs
Not all mortgages work the same way
When you're ready to buy or refinance, the type of loan you choose matters as much as the rate itself. Fixed-rate mortgages keep your payment steady for the life of the loan. Adjustable-rate mortgages may start lower but can change over time. FHA loans let borrowers with smaller down payments get into a home. VA loans serve those who've earned them. Each program has different rules, flexibility, and long-term costs. The right choice depends on your timeline, how long you plan to stay in your home, and what kind of payment predictability gives you peace of mind. I'd be happy to walk you through which option makes the most sense for your situation. Let's talk about which loan program fits your goals.
|
|
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.
|
|
Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
|
|
1.
|
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.
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
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
|
|
|
My Mortgage Company
John Schaff
|
|
|
|
You are receiving this from John Schaff. Unsubscribe
|