Ross D. Tammen · November 3, 2026

Are you in the right loan type?

Mortgage Market Update

My Mortgage Company

Ross D. Tammen

Tuesday, November 3, 2026

Are you in the right loan type?

Not every mortgage is built the same. Here's why that matters to your wallet.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

Rate trend

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

Not all mortgages work the same way. The loan program you choose—whether fixed-rate, adjustable, government-backed, or conventional—shapes how your payment behaves, what you pay over time, and how flexibility you have down the road. Some programs are built for stability; others reward you for planning to move or refinance. Some make sense for first-time buyers; others fit better if you have substantial equity or a large down payment. The right fit depends on your timeline, risk tolerance, and financial goals. If you've never explored whether your current loan is still the best match for where you are now, it might be worth a conversation. I'm happy to walk through your options and what each one actually means for your money.

Reach out if you'd like to talk through which loan structure makes sense for your situation.

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

M

My Mortgage Company

Ross D. Tammen

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