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Mortgage Market Update
My Mortgage Company
David Coldiron's Account
Tuesday, November 3, 2026
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What your credit score really means for a loan |
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Understanding how lenders view your financial picture helps you plan smarter. Here's what you should know about one of the most important numbers in the process.
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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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Debt and Borrowing
Your credit score matters more than you think
When you're ready to buy or refinance, your credit score isn't just a number—it's a key part of what determines which loan programs you qualify for and how much you'll pay. A stronger score often means access to better terms. The good news is that credit scores aren't fixed. If yours has taken some hits over the years, there are real steps you can take to move it in the right direction. Even small improvements can open doors. I'd rather talk with you now about where you stand than have surprises pop up later when you're ready to move forward. Let's review your situation and talk through what's possible for you.
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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
David Coldiron's Account
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