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Mortgage Market Update
My Mortgage Company
Barrett Financial Group - Marco Guzman
Tuesday, November 3, 2026
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What type of loan should you actually get? |
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There's more than one way to finance a home purchase, and the path you choose matters more than you might think.
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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
Loan types explained: which one fits your situation?
Not all mortgages work the same way, and picking the right loan program can make a real difference in your monthly payment and long-term costs. A conventional loan, an FHA loan, a VA loan (if you qualify), and other programs each have different requirements, benefits, and trade-offs. Some programs let you put down less money upfront. Others work better if your credit is still being rebuilt. Some are designed specifically for rural properties or repeat buyers. The right choice depends on your down payment, credit profile, military status, and how long you plan to stay in the home. Understanding your options means you're not just borrowing—you're borrowing smart. Let's talk about which loan program makes sense for 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 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
Barrett Financial Group - Marco Guzman
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