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Mortgage Market Update
Veronica DeWitt
Barrett Financial
Thursday, September 17, 2026
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Down payment: smaller than you think? |
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Hi there. I wanted to spend a moment on one of the most misunderstood parts of buying a home—and one of the biggest levers you actually control.
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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 Basics
Why your down payment matters more than you think
Your down payment does more than just reduce what you borrow. It shapes your interest rate, your monthly payment, whether you'll pay mortgage insurance, and how much equity you own from day one. A larger down payment generally means a lower rate and no PMI—but putting down less doesn't disqualify you. Many borrowers qualify with much smaller down payments than they assume, and some programs are designed exactly for that. The key is understanding how your specific down payment affects your total loan cost, so you can make a choice that fits your situation, not someone else's.
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Tip of the Week
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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Tips for Homeowners
USDA Loans: A Zero-Down Option for Rural Buyers
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1.
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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.
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2.
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USDA loans have income limits — typically 115% of the area median income. Both the property location and borrower income must qualify.
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3.
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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.
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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 Veronica DeWitt team any time and we'll walk you through your options. |
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5750 Sunrise Blvd Ste 130 ECitrus Heights, CA 95610
5103968994 | www.dewitthomeloans.com
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