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Mortgage Market Update
Lenni Oh
Lenni Oh
Thursday, September 3, 2026
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Your down payment: one choice, many ripples |
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Hi there. This week I want to talk about something that happens before you even get the keys—and shapes your finances for years after.
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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 later
When you're buying a home, the size of your down payment feels urgent—but its impact doesn't stop on closing day. A larger down payment means a smaller loan, which affects your monthly payment, the total interest you'll pay over time, and whether you'll need mortgage insurance. It also builds instant equity and can qualify you for better loan terms. Even if you're already a homeowner, understanding how your down payment shaped your loan can help you make smarter decisions about refinancing or paying down your balance. The choices you make early on have a long tail. I'm happy to walk through how your down payment is working for you right now.
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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 Lenni Oh team any time and we'll walk you through your options. |
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