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Mortgage Market Update
Melanie Camargo
Melanie Camargo
Saturday, September 12, 2026
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Why loan length shapes your money more than rate |
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Hi there,
I want to share something important that doesn't always get enough attention when borrowers are comparing offers.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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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Loan Terms
Why your loan length matters more than you might realize
When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the length of your loan—whether it's 15 years, 20 years, or 30 years—shapes your entire financial picture. A shorter term means you build equity faster and pay less interest overall, but your monthly payment will be higher. A longer term keeps your payment manageable, which matters if you're stretching to afford your home or want breathing room in your budget. The right choice depends on your income, other financial goals, and how long you plan to stay in the home. There's no universal "best" option—only what works for your situation. If you'd like to talk through what loan term makes sense for you, I'm here to walk through the numbers.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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2.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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 Melanie Camargo team any time and we'll walk you through your options. |
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