Dorian Gonzalez · September 2, 2026

Picking the right loan type matters

Mortgage Market Update

Dorian Gonzalez

Dorian Gonzalez

Wednesday, September 2, 2026

Picking the right loan type matters

Hi there. This week I want to clear up some confusion I hear often about mortgage programs and which one is the right fit.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

Rate trend

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

Not all mortgages work the same way

When you're ready to buy or refinance, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA. Each one has different rules, costs, and protections built in. The right choice depends on your timeline, how long you plan to stay in the home, and what fits your budget. I see borrowers saved money—sometimes a lot—by understanding which program matched their situation rather than just picking the first option. The good news is you don't have to decode this alone. I can walk you through what's available and why one might make more sense than another for your specific goals.

Let's talk about which loan program could work best for you.

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 Dorian Gonzalez team any time and we'll walk you through your options.

Your Mortgage Advisor

D

Dorian Gonzalez

Dorian Gonzalez

dorian@barrettfinancial.com

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