Mortgage Market Update

My Mortgage Company

Nicholas Drescher

Tuesday, November 3, 2026

The loan program that works best for you

Hey there. This week I want to walk you through something that shapes your whole mortgage experience: which type of loan you choose.

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

Not all mortgages are created equal

If you've been shopping around or just curious about your options, you've probably heard terms like conventional, FHA, VA, and USDA thrown around. The truth is, which loan program works best for you depends on your situation—your down payment, credit history, military status, or where you're buying. Some programs are more flexible on credit; others require less money down. Some have different rules about what kind of property qualifies. I've seen borrowers save real money just by matching the right program to their circumstances. It's worth understanding what's actually available to you, not just what a lender happens to mention first.

Let's talk about which loan type fits your goals—reach out anytime.

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

Nicholas Drescher

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