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Mortgage Market Update
My Mortgage Company
Javier Martinez's Account
Thursday, September 3, 2026
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Should you pay extra on your mortgage? |
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Hi there. This week I want to tackle a question I hear often from homeowners who are thinking about their long-term payoff strategy.
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National Mortgage Rates · August 27, 2026
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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.
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Refinancing Strategy
When paying off your mortgage early actually makes sense
A lot of homeowners ask me if they should put extra money toward their mortgage principal. The honest answer is: it depends. Paying down your loan faster builds equity quickly and saves you interest over time, which feels great. But before you throw extra cash at the mortgage, make sure you're not missing out on other financial moves—like maxing out retirement accounts or building an emergency fund. The right strategy depends on your rate, your goals, and what else is happening with your finances. There's no one-size-fits-all answer, which is why it's worth talking through your specific situation. I'm here to help you think it through. Let's talk about whether an accelerated payoff plan makes sense for you.
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Tip of the Week
Schedule a plumber to inspect older homes for slow leaks — water damage is expensive and often hidden until it's serious.
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Tips for Homeowners
Jumbo Loans: What They Are and How They Work
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1.
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A jumbo loan exceeds the conforming loan limit set by the FHFA — $766,550 in most areas for 2024, higher in designated high-cost markets. These loans can't be sold to Fannie Mae or Freddie Mac.
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2.
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Jumbo loans typically require stronger credit (often 700+), larger down payments (10–20%), and more cash reserves. Underwriting is more thorough and can take longer.
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3.
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Rates on jumbo loans are sometimes comparable to or even lower than conforming rates, depending on market conditions. Don't assume a jumbo loan means a worse deal — shop lenders.
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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
Javier Martinez's Account
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