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Mortgage Market Update
Alessandro Mungioli
Alessandro Mungioli
Wednesday, September 2, 2026
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Down payment questions? Let's sort them out |
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Hi there. This week I want to tackle something I hear about constantly: figuring out how much to put down when you buy or refinance.
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National Mortgage Rates · August 27, 2026
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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.
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Smart Borrowing
Why your down payment size matters more than you think
The amount you put down when you buy shapes your whole loan experience—not just at closing, but for years after. A larger down payment can mean a lower monthly payment, no mortgage insurance requirement, and better loan terms overall. But here's what surprises people: you don't need to max it out to make a smart move. The right down payment for you depends on your savings, your comfort level, and what makes sense for your financial picture. If you're stuck wondering how much is enough, or whether you should wait to save more, that's exactly the conversation we should have. I can walk you through what different scenarios look like so you can decide what fits. Let's talk about what a down payment strategy looks like for your situation.
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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.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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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.
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2.
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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.
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3.
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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.
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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 Alessandro Mungioli team any time and we'll walk you through your options. |
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