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Mortgage Market Update
My Mortgage Company
Nick Robertson
Tuesday, November 3, 2026
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Your down payment matters more than you think |
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There's a lot of noise out there about down payments. Let me cut through it and show you what yours actually means for your mortgage options.
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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
What your down payment size really unlocks
Your down payment does more than just lower what you owe—it shapes which loan programs you qualify for and how much flexibility you have on the back end. A larger down payment can open doors to better terms, lower insurance costs, and simpler approval processes. But a smaller one doesn't disqualify you; it just means different programs and strategies might serve you better. The right fit depends on your situation: how much you have saved, your timeline, your credit profile, and your long-term plans for the home. I'm here to walk you through what's actually available to you, not just what sounds good in theory. Let's talk about which loan program and down payment approach makes sense for where you are right now.
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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 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
Nick Robertson
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