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A Note From Cory Hoag
Cory & Crew Updating You!
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THIS WEEK
The right loan type for your goals
I spend most of my week explaining loan programs to borrowers, and I notice most people focus only on rate. The program itself matters just as much.
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RATE SNAPSHOT · November 2, 2026
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CONVENTIONAL 30-YR
7.13%
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FHA 30-YR
6.96%
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VA 30-YR
6.76%
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Source: Optimal Blue daily mortgage indices via FRED · Informational only
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Loan Programs
Why your loan type matters more than you think
Not all mortgages work the same way, and the one that's right for you depends on your situation, not just the rate. Fixed-rate loans lock in your payment for the life of the loan—predictable and straightforward. Adjustable-rate loans start lower but can shift over time. Government-backed programs like FHA or VA have different rules and benefits than conventional loans. First-time buyers, repeat buyers, investment property owners, and refinancers often need different tools. A few minutes spent understanding which loan program fits your goals, timeline, and comfort level can make the difference between a mortgage that feels right and one that creates stress. I'd be happy to walk you through how these work and what makes 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 Cory Hoag team any time and we'll walk you through your options.
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