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Mortgage Market Update
My Mortgage Company
Jose Treto
Tuesday, November 3, 2026
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Picking the right loan type for your situation |
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Hi there. This week I want to dig into something that doesn't always get enough attention when people are hunting for a mortgage.
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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
Why your loan choice matters more than you think
When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose—conventional, FHA, VA, USDA, or another program—shapes your entire borrowing experience. Different programs come with different requirements for down payment, credit score, and property type. Some offer more flexibility if your finances are tight; others reward you for putting more money down. The right program for you depends on your situation, not just on chasing the lowest rate you can find. I'd love to walk you through which programs you actually qualify for and why one might fit your goals better than another. Let's talk about which loan program makes the most sense for you.
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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
Jose Treto
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