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Mortgage Market Update
My Mortgage Company
Trishana Kimble — Trishana Kimble
Wednesday, September 2, 2026
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Your closing disclosure explained |
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One of the biggest shocks for first-time buyers happens at the closing table. Here's what's really in those costs — and what you can do about them.
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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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Closing Costs
What you're actually paying at closing
Closing costs catch a lot of people off guard. Beyond your down payment, you're looking at appraisal fees, title insurance, inspections, attorney fees, and lender charges — they typically run between two and five percent of your loan amount. The good news: many of these are negotiable, and some lenders or sellers may be willing to help cover them depending on market conditions and your situation. Understanding what's in that closing disclosure ahead of time means no surprises on signing day. I always walk my clients through a full estimate early so they know exactly what to budget for. If you're buying soon or curious about what your closing costs might look like, let's talk through the numbers.
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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 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
Trishana Kimble — Trishana Kimble
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