Mortgage Market Update

My Mortgage Company

Russell Kesterson

Thursday, September 17, 2026

Which mortgage type matches your needs?

Hi there. This week I want to walk you through something that doesn't get enough attention: choosing the right loan program for your specific situation.

National Mortgage Rates · September 10, 2026

Conventional 30-Year

6.76%

FHA 30-Year

6.82%

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

Finding the right loan type for your situation

Not all mortgages are created equal, and the right loan program for your neighbor might not be the right one for you. Whether you're a first-time buyer, buying again, refinancing, or looking to tap your home's equity, there are programs designed with different financial situations in mind. Some borrowers benefit from fixed-rate loans for stability; others find adjustable-rate options work better for their timeline. VA loans, FHA loans, conventional loans, and portfolio programs each have different strengths depending on your credit, down payment, and goals. The key is understanding which program aligns with your actual needs, not just the lowest rate you can find. That's where a real conversation about your circumstances makes all the difference.

Let's talk about which program might be the best fit for where you are 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

Russell Kesterson

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