Mortgage Market Update

Caitlin Garner

Tuesday, November 3, 2026

Picking the right loan type for your situation

One of the biggest decisions in a mortgage isn't talked about enough: the type of loan itself. Let me explain why it matters.

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

Why your loan type matters more than you think

Not all mortgages work the same way. The type of loan you choose — fixed-rate, adjustable-rate, FHA, conventional, VA — shapes your payment, your flexibility, and your long-term costs in ways that go far beyond just the interest rate. Some borrowers lock in stability; others prioritize lower starting payments. Some programs offer advantages specific to your situation — military service, first-time homebuying, lower down payments — that can open doors other loans won't. The right choice depends on your timeline, risk comfort, and financial goals. If you're not sure whether your current loan is still the best fit, or if you're exploring options before you buy, it's worth a conversation. I can walk you through how different programs stack up for your specific needs.

Let's talk about which loan type makes the most sense for where you are right now.

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 Caitlin Garner team any time and we'll walk you through your options.

Your Mortgage Advisor

Caitlin Garner

caitlin.garner@onerealmortgage.com

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