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Mortgage Market Update
My Mortgage Company
York Superior Mortgage Group
Wednesday, September 16, 2026
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Picking the right loan type for you |
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Hi there. One of the biggest decisions in getting a mortgage isn't just how much to borrow—it's which type of loan to borrow it through.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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
What your loan options really mean for you
When we talk about different loan programs—fixed-rate mortgages, adjustable-rate loans, FHA, conventional, and others—it's easy to get lost in the alphabet soup. What matters most is understanding how each one works for your specific situation. A fixed-rate loan gives you payment stability and peace of mind. An adjustable-rate option might offer a lower starting payment, but your rate can change over time. Government-backed programs like FHA can be great if you're building credit or have a smaller down payment. The right choice depends on how long you plan to stay in your home, your risk tolerance, and what you can comfortably afford month to month. I'm always happy to walk through the real pros and cons of each option so you can make a choice that fits your life, not just a lender's checklist. Let's talk about which loan program makes sense for where you are right now.
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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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1.
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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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2.
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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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3.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
York Superior Mortgage Group
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