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Mortgage Market Update
Krunal Shah
Krunal Shah
Wednesday, September 2, 2026
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What actually matters on a mortgage application |
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There's a lot of noise out there about getting approved for a mortgage. Let me cut through it and tell you what lenders actually care about.
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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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First-Time Buyer
What lenders actually look at when you apply
I talk to a lot of first-time buyers who worry they won't qualify, but they're often surprised by what matters most to lenders. Yes, your credit score and income count—but it's rarely a single number that makes or breaks your approval. Lenders look at the whole picture: your debt history, job stability, down payment, and how you've managed money over time. Even if your score isn't perfect or your income is modest, there are loan programs designed to work with real people's real situations. The best move is to get pre-qualified early so you know exactly where you stand, what you can afford, and what to focus on before you start house hunting. Reach out and let's talk through what pre-qualification looks like for you.
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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 Krunal Shah team any time and we'll walk you through your options. |
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