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A Note From Cory Hoag
Cory & Crew Updating You!
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THIS WEEK
Fixed or adjustable—what's the difference
Hi there. This week I want to walk you through one of the core choices that shapes your mortgage.
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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 Program Options
Fixed vs. adjustable: which fits your plan
One of the bigger decisions you'll make when getting a mortgage is whether to lock in a fixed rate for the life of your loan or choose an adjustable rate that starts lower but changes over time. The right choice depends on your timeline and comfort level. If you're planning to stay in your home long-term, a fixed rate gives you predictability—your payment never changes. If you think you'll move or refinance within a few years, an adjustable option might work, but it does come with uncertainty down the road. Both are legitimate paths. The key is understanding what each one means for your situation and your peace of mind.
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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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