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Mortgage Market Update
Lester Marcano
Lester Marcano
Wednesday, September 2, 2026
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Picking the right loan for your home |
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Hi there. One of the most important decisions in the mortgage process isn't about interest rates—it's about the type of loan you choose.
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National Mortgage Rates · August 27, 2026
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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 loan type is right for your situation?
Not all mortgages are created equal. Depending on where you are in life—whether you're a first-time buyer, a repeat homeowner, or someone with a non-traditional financial profile—different loan programs may serve you better than others. Some borrowers benefit from fixed-rate stability; others find adjustable rates make sense for their timeline. VA, FHA, and conventional loans each have their own strengths and qualifying rules. The right choice isn't always obvious, and what worked for your neighbor might not be your best fit. I'd love to walk you through the options that match your goals and circumstances. Let's talk about which loan program aligns with where you're at right now.
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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.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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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.
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2.
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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.
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3.
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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.
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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 Lester Marcano team any time and we'll walk you through your options. |
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