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Mortgage Market Update
Kenna Siders
Kenna Siders
Thursday, September 3, 2026
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Your down payment strategy matters |
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Hi there. This week I want to focus on one of the most powerful levers you have when buying or refinancing a home—and it's something you control.
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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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Smart Money
Why your down payment size matters more than you think
The amount you put down when you buy—or when you refinance—affects more than just your monthly payment. A larger down payment can influence the loan programs available to you, how lenders view your application, and even the long-term cost of your mortgage. It's one of the few things you control directly in the borrowing process. Whether you're saving for a first home or considering a cash-out refinance, understanding how your down payment shapes your options helps you make a decision that fits your real financial picture, not just this month's payment. If you'd like to talk through how different down payment scenarios might work for your situation, I'm here to walk you through it.
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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 Kenna Siders team any time and we'll walk you through your options. |
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