Phast Funding · September 2, 2026

Which loan program is right for you?

Mortgage Market Update

Emin Hakobian

Phast Funding

Wednesday, September 2, 2026

Which loan program is right for you?

Not all mortgages are built the same. This week I want to talk about why the program you choose matters.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

Rate trend

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.


Loan Programs

Not all mortgages work the same way

One thing I've learned talking with borrowers is that people often think a mortgage is a mortgage—but that's not quite right. Different loan programs come with different rules about down payments, credit requirements, flexibility, and long-term costs. A conventional loan works differently than an FHA loan, which works differently than a VA or USDA program. Your situation—where you're buying, what you're putting down, your credit history, your timeline—should guide which program actually makes sense for you. The right choice can mean real savings and less stress down the line. If you're not sure which program fits your life, I'd love to walk through your options and help you understand what each one means for you.

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

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.

Tips for Homeowners

Understanding Mortgage Points

1.

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.

2.

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.

3.

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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Emin Hakobian team any time and we'll walk you through your options.

Your Mortgage Advisor

E

Emin Hakobian

Phast Funding

emin@phastfunding.com

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