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Mortgage Market Update
Eric Neal
Eric Neal
Thursday, September 3, 2026
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The loan type you pick really does matter |
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Hi there — I've been thinking about how many borrowers end up with a loan program that doesn't quite fit their needs, simply because they didn't know the options were out there.
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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 options matter more than you think
When you're ready to buy or refinance, the type of loan you choose shapes your entire financial picture — not just your rate, but your timeline, flexibility, and long-term costs. A conventional loan works differently than an FHA or VA loan, and each has genuine advantages depending on where you are in life. Some programs let you put less down; others offer rate benefits or faster closing. The right fit isn't always the most popular one — it's the one that matches your situation. I'd love to walk you through what's available to you and why one program might serve you better than another. Let's talk about which loan program makes the most sense for your goals.
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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 Eric Neal team any time and we'll walk you through your options. |
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