Picking the right loan type for you

Hi there. This week I want to tackle a question I hear often: which type of mortgage should I actually choose?

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.79%

VA 30-Year

6.50%

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.

Loan Programs

Which loan type is right for your situation?

Not all mortgages are created equal, and the right loan for your neighbor might not be the right one for you. Some borrowers do well with fixed-rate loans that lock in certainty for 15 or 30 years. Others benefit from adjustable-rate options or specialized programs designed for specific situations—whether that's a smaller down payment, a jumbo purchase, or a investment property. The choice depends on your timeline, how long you plan to stay in the home, and your comfort with different payment structures. I'd love to walk you through the options that actually fit your goals, not just the standard template.

Let's talk about which loan program makes sense for where you are right now.

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.

Tips for Homeowners

Understanding Mortgage Points

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Lee Simanoff team any time and we'll walk you through your options.

Your Mortgage Advisor

Lee Simanoff

NMLS# 817440 · Company NMLS# 376205

leethelender@gmail.com

9044468533

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125 B King Street

9044468533

NMLS# 817440 · Company NMLS# 376205

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