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Mortgage Market Update
Mark Succarotte
The Succarotte Team
Wednesday, September 2, 2026
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Which loan type is right for you? |
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Hi there,
This week I want to talk about something that doesn't get enough attention: the loan program you choose shapes your entire borrowing experience.
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National Mortgage Rates · August 27, 2026
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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.
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Loan Programs
Picking the right loan type matters more than you think
When you're ready to buy or refinance, you have choices about which loan program fits your situation. A conventional loan works differently than an FHA loan, which works differently than a VA or USDA loan — each has its own timeline, down payment options, and requirements. The right choice depends on your credit history, how much you have saved, your military service status, or whether you're buying in a rural area. Picking the wrong one can cost you time and money; picking the right one can open doors you didn't know existed. I'd love to walk you through which programs you actually qualify for and which one makes sense for your goals. Let's talk about which loan program is the best fit for your situation.
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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.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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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.
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2.
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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.
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3.
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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.
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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 Mark Succarotte team any time and we'll walk you through your options. |
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