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Mortgage Market Update
CHRIS MILLER
Chris Miller
Thursday, September 3, 2026
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Picking the right loan program matters |
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Hi there — this week I want to highlight something that doesn't get enough attention: the loan program itself. It's easy to focus only on rates and payments, but the structure underneath matters just as much.
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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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Loan Programs
Your loan type matters more than you think
Not all mortgages are created equal. The loan program you choose — whether it's a conventional loan, FHA, VA, USDA, or an adjustable-rate option — shapes your entire borrowing experience. Each has different eligibility rules, down payment requirements, and long-term cost implications. Some borrowers qualify for programs they don't know exist, while others pick a program without understanding how it fits their actual situation. The right choice can mean lower costs, faster approval, or better flexibility down the road. If you're curious whether your current loan is still the best fit for you, or if you're shopping and want to understand your real options, I'd be happy to walk through what makes sense for your specific goals. Let's talk about which loan program works best for your situation.
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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 CHRIS MILLER team any time and we'll walk you through your options. |
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