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Mortgage Market Update
John Kean
John Kean
Tuesday, November 3, 2026
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What your credit score actually qualifies you for |
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Hi there. This week I want to touch on something that affects a lot of homeowners and buyers, but often stays in the background: how your credit score shapes your mortgage options.
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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
What your credit score actually unlocks
Your credit score isn't just a number—it's a key that opens different doors in the mortgage world. Better credit often means access to more loan programs, more flexible terms, and better pricing. But the relationship between credit and your options isn't always obvious. Some borrowers don't realize that even modest improvements to their score can shift what's available to them. If you're thinking about buying soon or considering a refinance, understanding where your credit stands—and what it means for your choices—is worth a conversation. I can walk you through what your specific score qualifies you for and whether a small step now might make a real difference down the road. Let's talk about what your credit situation means for your next move.
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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 John Kean team any time and we'll walk you through your options. |
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