Mortgage Market Update

My Mortgage Company

Kenneth Harter

Tuesday, November 3, 2026

Picking the right loan type for you

There's more to choosing a mortgage than comparing rates. Today I want to talk about loan programs, and why the one you pick 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.

Mortgage Basics

Why your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose—fixed-rate, adjustable-rate, FHA, conventional, VA—shapes your entire borrowing experience. Each has different rules about down payments, who qualifies, how your payment changes over time, and what flexibility you have down the road. The right fit depends on your timeline, how long you plan to stay in the home, and your comfort with payment changes. I've seen borrowers save money and avoid stress simply by matching their situation to the right loan program. If you're not sure which option makes sense for you, I'd like to walk through it together.

Reach out anytime—I'm happy to explain which loan type might work best for your situation.

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

Kenneth Harter

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