Mortgage Market Update

My Mortgage Company

Rico Singleton

Tuesday, November 3, 2026

The loan program conversation we should have

Not all mortgages are created equal. Here's why the type you choose matters just as much as the rate.

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 Program Basics

Why your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the loan program you choose—whether it's conventional, FHA, VA, or USDA—shapes your entire borrowing experience. Different programs have different requirements for down payments, credit scores, and property types. Some offer flexibility if your finances shift; others lock in stricter terms. The right program for you depends on your situation: your down payment savings, your credit history, and what you're buying. I've seen borrowers leave money on the table simply by not exploring all their options. Let's talk about which program actually fits your goals.

Reach out, and we can walk through which loan type makes sense for where you are right now.

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

Rico Singleton

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