Karla G Rosillo · November 6, 2026

Which type of mortgage fits you best?

Mortgage Market Update

My Mortgage Company

Karla G Rosillo

Friday, November 6, 2026

Which type of mortgage fits you best?

Not every homeowner needs the same loan. This week I want to walk you through why the structure of your mortgage matters as much as the rate itself.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey

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

Not all mortgages work the same way

When you're shopping for a loan, it's easy to focus only on the interest rate. But the type of loan you choose — fixed-rate, adjustable-rate, government-backed, or conventional — shapes your whole borrowing experience. Each has different rules about what you can borrow, how your payment behaves over time, and what flexibility you have down the road. The right choice depends on your situation: how long you plan to stay, your comfort with payment changes, and what you qualify for. I'd rather see you pick the loan that fits your life than the one with the lowest rate this week.

If you want to understand which program makes sense for your goals, let's talk through your options.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

M

My Mortgage Company

Karla G Rosillo

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