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Mortgage Market Update
Jon Sanderson
Jon Sanderson
Thursday, September 3, 2026
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The loan type matters more than you think |
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Hi there—this week I want to walk you through something that doesn't always get enough attention when people are shopping for a mortgage.
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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
Choosing the right loan type for your situation
When you're ready to buy or refinance, the interest rate gets most of the attention—but the loan program itself matters just as much. Different programs have different requirements, costs, and flexibility built in. Some work better if you're planning to stay in your home long-term; others make sense if you might move in five or seven years. Some require a larger down payment upfront, while others don't. The right choice depends on your financial picture, timeline, and comfort level. I've worked with borrowers who picked a program that looked good on paper but didn't fit their actual life—and others who found a match that made everything easier. That's why I like to talk through the options with you personally, not just hand you a rate sheet. Let's talk about which loan program might work best 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 Jon Sanderson team any time and we'll walk you through your options. |
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