Mortgage Market Update

My Mortgage Company

Peter Spinella

Thursday, September 17, 2026

Picking the right loan program matters more than you think

There's more than one way to finance a home, and not all paths are the same. Understanding your options is the first step to a smart decision.

National Mortgage Rates · September 10, 2026

Conventional 30-Year

6.76%

FHA 30-Year

6.82%

VA 30-Year

6.71%

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

What your loan program actually does for you

When you're shopping for a mortgage, you'll hear about different loan programs—conventional, FHA, VA, USDA, and others. Each one has its own rules about down payments, credit requirements, and who qualifies. The program you choose affects not just whether you get approved, but what your monthly payment looks like and how much flexibility you have down the road. If you've been turned down before, a different program might open a door. If you're buying soon, the right program can mean the difference between stretching your budget and staying comfortable. I'd love to walk you through which programs might work for your situation.

Let's talk about which loan program makes sense for where you're at right now.

Tip of the Week

Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.

Tips for Homeowners

USDA Loans: A Zero-Down Option for Rural Buyers

1.	USDA loans offer 100% financing (no down payment) for eligible properties in USDA-designated rural and suburban areas. The USDA's eligibility map may include areas closer to cities than you'd expect.

2.	USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.

3.	There's an upfront guarantee fee (1% of the loan) and an annual fee (0.35% of the balance). These are lower than FHA mortgage insurance and can be rolled into 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

My Mortgage Company

Peter Spinella

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