Chris Miller · September 2, 2026

Picking the right loan program matters

Mortgage Market Update

CHRIS MILLER

Chris Miller

Wednesday, September 2, 2026

Picking the right loan program matters

Hi there — this week I want to highlight something that doesn't get enough attention: the loan program itself. It's easy to focus only on rates and payments, but the structure underneath matters just as much.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

Rate trend

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

Your loan type matters more than you think

Not all mortgages are created equal. The loan program you choose — whether it's a conventional loan, FHA, VA, USDA, or an adjustable-rate option — shapes your entire borrowing experience. Each has different eligibility rules, down payment requirements, and long-term cost implications. Some borrowers qualify for programs they don't know exist, while others pick a program without understanding how it fits their actual situation. The right choice can mean lower costs, faster approval, or better flexibility down the road. If you're curious whether your current loan is still the best fit for you, or if you're shopping and want to understand your real options, I'd be happy to walk through what makes sense for your specific goals.

Let's talk about which loan program works best for your situation.

Tip of the Week

Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.

Tips for Homeowners

Understanding Mortgage Points

1.

One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.

2.

Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.

3.

Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the CHRIS MILLER team any time and we'll walk you through your options.

Your Mortgage Advisor

C

CHRIS MILLER

Chris Miller

chris@applywithchris.com

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