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Mortgage Market Update
My Mortgage Company
George Lane
Tuesday, November 3, 2026
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Your down payment unlocks more than you think |
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Most borrowers focus on their down payment number, but the real value is in understanding what it qualifies you for. Here's what matters.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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.
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Loan Programs
What your down payment really controls
Your down payment size doesn't just affect how much you need to borrow—it shapes which loan programs you actually qualify for, how your monthly payment breaks down, and what flexibility you'll have down the road. A smaller down payment might mean different insurance requirements or rate options than a larger one. The good news is that programs exist for all kinds of situations, and understanding what yours opens up can help you make a smarter choice today. If you're wondering whether your down payment amount limits your options, or whether a different approach might work better for your goals, I'd love to walk through it with you. Let's talk about which programs fit your down payment and timeline.
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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.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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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.
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2.
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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.
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3.
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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.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
George Lane
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