Brandon Work · September 2, 2026

Which mortgage type works best for you?

Mortgage Market Update

Brandon Work

Brandon Work

Wednesday, September 2, 2026

Which mortgage type works best for you?

Hi there. This week I want to talk about something that doesn't get enough attention: making sure you're in the right type of loan for your actual situation.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

Rate trend

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.


Loan Programs

What kind of loan actually fits your situation?

Not all mortgages are the same, and picking the right one matters more than you might think. Some borrowers do best with a fixed rate that never changes. Others benefit from adjustable options, portfolio programs, or specialized loans for specific situations—like if you're self-employed, have a non-traditional income, or are buying a second home. The right fit depends on your timeline, risk tolerance, and how long you plan to stay in the home. I've seen people save real money by being in the program that actually matches their life, not just the one they heard about first. If you're not sure whether your current loan—or the one you're considering—is the best match for you, let's talk it through.

Reach out and we can walk through which program makes the most sense for your goals.

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.

Tips for Homeowners

Understanding Mortgage Points

1.

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.

2.

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.

3.

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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Brandon Work team any time and we'll walk you through your options.

Your Mortgage Advisor

B

Brandon Work

Brandon Work

bwork@canopymortgage.com

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