Mortgage Market Update

My Mortgage Company

Kris Wootton

Tuesday, November 3, 2026

Picking the right loan type for your situation

Not all mortgages are created equal. The loan program you choose can have a real impact on your long-term costs and peace of mind.

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

Your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on interest rates. But the type of loan you choose—fixed, adjustable, FHA, conventional, VA—shapes your monthly payment, long-term costs, and flexibility down the road. Some programs work better for buyers planning to stay put for decades. Others make sense if you're thinking shorter term or have a smaller down payment. The right fit depends on your timeline, risk tolerance, and financial situation. I'd love to walk you through how different programs could work for your specific goals and help you understand which one actually aligns with your plans.

Let's talk about which loan program makes the most sense for you.

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

Kris Wootton

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