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Mortgage Market Update
Karen Cely Chavez
Karen Cely Chavez
Thursday, September 3, 2026
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Picking the right 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 the attention it deserves: the loan program itself, and how it affects your financial picture.
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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
What your loan type actually costs you
Not all mortgages are built the same. The program you choose—whether it's a fixed rate, an ARM, an FHA loan, or something else—shapes your monthly payment, your long-term costs, and how much flexibility you have down the road. I've seen borrowers pick a loan type based on a single factor (like the lowest starting rate) and miss out on programs that would've served them better over five, ten, or thirty years. The right choice depends on your timeline, risk tolerance, and financial goals. If you've never walked through the trade-offs side by side, it's worth a conversation. I can show you how different programs compare for your situation. Let's talk through which loan type makes the most sense for you.
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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 Karen Cely Chavez team any time and we'll walk you through your options. |
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