Melanie Ross · November 6, 2026

Picking the right loan program matters more than you think

Mortgage Market Update

Melanie Ross

Melanie Ross

Friday, November 6, 2026

Picking the right loan program matters more than you think

Hi there. This week I want to talk about something that doesn't get enough attention: the actual type of loan you choose.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

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.


Loan Programs

What loan program is actually right for you?

Not all mortgages are created equal, and the one that works best depends on your situation, not just the interest rate. Some borrowers benefit from fixed-rate loans that lock in predictability for decades. Others qualify for programs with lower upfront costs, flexible credit requirements, or special terms for first-time buyers or specific professions. The right choice affects your monthly payment, how much house you can afford, and your long-term financial comfort. I spend time with every client understanding their timeline, risk tolerance, and goals—because picking the wrong program can cost you thousands, while picking the right one opens doors you didn't know existed. If you've ever wondered whether there's a better fit than what you've heard about, let's talk.

Reach out and we can walk through which programs make sense for your circumstances.

Tip of the Week

Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.

Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.

2.

Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.

Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Melanie Ross team any time and we'll walk you through your options.

Your Mortgage Advisor

M

Melanie Ross

Melanie Ross

melanie.ross@onerealmortgage.com

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