Mortgage Market Update

My Mortgage Company

Darryl Bowles

Tuesday, November 3, 2026

The loan type question worth asking

There are real differences between mortgage types—and picking the right one matters more than many borrowers realize.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Loan Programs

Which loan type actually fits your situation

Not all mortgages work the same way, and the right choice depends on your timeline, risk tolerance, and financial picture. Some borrowers benefit from the stability of a fixed rate that never changes. Others prefer starting lower with an adjustable option, knowing their situation may shift. Then there are specialty programs—VA loans, FHA loans, conventional—each with different rules and advantages. The loan type you pick affects not just your payment, but your flexibility down the road. If you've been wondering whether you're in the right mortgage, or if a different type might serve you better now, let's talk through your options.

Reach out and we can walk through what loan structure makes the most sense for where you are.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Darryl Bowles

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