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Mortgage Market Update
My Mortgage Company
Errol Fenty — Errol Fenty
Tuesday, November 3, 2026
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There are more loan options than you might think |
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Hi there — I wanted to share something I see happen often: people assume their mortgage options are limited, when really there's more flexibility available than they realize.
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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
Why your neighbor's mortgage might work differently than yours
Not all mortgages are created equal — and that's actually good news for you. Different loan programs exist because different borrowers have different situations. A first-time buyer might benefit from one program, while someone with significant equity has other smart options. Some programs are designed for those with strong credit; others can work even if your score isn't perfect. The right program for you depends on your down payment, your timeline, and what you're trying to accomplish. That's why it's worth having a conversation about what's available — because choosing the right structure can make a real difference in your monthly payment and long-term costs. If you'd like to explore which programs make sense for your situation, I'm here to walk through your options.
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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
Errol Fenty — Errol Fenty
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