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Mortgage Market Update
Tyler McNeilly
Tyler McNeilly
Tuesday, November 3, 2026
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Picking the right loan type for you |
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Hi there. This week I want to cover something that doesn't always get talked about enough: the different mortgage programs available to you, and why one might work better than another for your needs.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates 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
Not all mortgages work the same way
When you're shopping for a home or thinking about refinancing, the interest rate gets most of the attention—but the type of loan you choose matters just as much. Some programs offer lower upfront costs, others give you payment predictability, and some are built for specific situations like first-time buying or VA eligibility. The right fit depends on your timeline, how long you plan to stay in the home, and what matters most to your budget. I'd be glad to walk you through which options make sense for your particular situation. Let's talk about which loan program fits your goals.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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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 Tyler McNeilly team any time and we'll walk you through your options. |
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