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Mortgage Market Update
James Oldham
James Oldham
Friday, November 6, 2026
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Your down payment has more power than you think |
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Every borrower's situation is different, and the amount you put down plays a bigger role than most people realize. Here's what you need to know.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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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.
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Loan Programs
What your down payment size really means
Your down payment isn't just a number—it shapes which loan programs you qualify for, what your monthly payment looks like, and what flexibility you have down the road. A smaller down payment doesn't disqualify you from homeownership; it just opens different doors than a larger one. Some programs are built to work with modest down payments, while others reward you for putting more down upfront. Understanding what's available to you, given your situation, helps you make a choice that actually fits your life—not one that stretches you too thin or leaves money on the table. I'd like to help you see what makes sense for your goals. Let's talk through what down payment options work best for you.
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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.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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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.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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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.
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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 James Oldham team any time and we'll walk you through your options. |
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