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Mortgage Market Update
My Mortgage Company
Kelly Cutter
Tuesday, November 3, 2026
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Your down payment matters more than you think |
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Hi there. Each borrower's situation is unique, and the loan program you choose plays a big role in your success as a homeowner.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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.
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Loan Programs
What your down payment actually unlocks
Your down payment amount does more than just reduce what you borrow—it shapes which loan programs you qualify for and how favorable your terms can be. A smaller down payment might steer you toward an FHA or conventional loan with mortgage insurance. A larger one opens doors to programs with different rates, terms, and flexibility. The right program depends on your situation: how much you have saved, your timeline, your credit profile, and what works with your budget long-term. It's worth understanding what's actually available to you before you decide how much to put down. There's no one-size-fits-all answer, but there's usually a smart path that fits your goals. Let's talk about which loan program makes the most sense for where you are right now.
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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.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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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.
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2.
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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.
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3.
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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.
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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
Kelly Cutter
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