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Mortgage Market Update
Mark Succarotte
The Succarotte Team
Thursday, September 3, 2026
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Which loan type is right for you? |
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Hi there,
This week I want to talk about something that doesn't get enough attention: the loan program you choose shapes your entire borrowing experience.
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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
Picking the right loan type matters more than you think
When you're ready to buy or refinance, you have choices about which loan program fits your situation. A conventional loan works differently than an FHA loan, which works differently than a VA or USDA loan — each has its own timeline, down payment options, and requirements. The right choice depends on your credit history, how much you have saved, your military service status, or whether you're buying in a rural area. Picking the wrong one can cost you time and money; picking the right one can open doors you didn't know existed. I'd love to walk you through which programs you actually qualify for and which one makes sense for your goals. Let's talk about which loan program is the best fit for your situation.
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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 Mark Succarotte team any time and we'll walk you through your options. |
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