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Mortgage Market Update
My Mortgage Company
Nebil Mathewos
Tuesday, November 3, 2026
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What loan type are you actually getting? |
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Not all mortgages are created equal. Here's what you need to know about the different programs available to you.
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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
Why your loan type matters more than you think
Not all mortgages work the same way, and choosing between a conventional loan, FHA, VA, or USDA program can mean the difference between a smooth closing and a frustrating one. Each program has different rules about down payments, credit requirements, and what kinds of properties qualify. If you've been turned down before or you're worried you don't have enough saved, there may be a loan type designed exactly for your situation. The right program for you depends on your specific circumstances—not on what worked for your neighbor. I'd love to walk you through what's actually available and which option makes sense for where you are right now. Let's talk about which loan program fits your goals best.
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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
Nebil Mathewos
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