Jesseca Hendricks · November 6, 2026

Which loan type fits your plan?

Mortgage Market Update

My Mortgage Company

Jesseca Hendricks

Friday, November 6, 2026

Which loan type fits your plan?

Mortgages aren't one-size-fits-all. Let's look at how to find the right fit for your needs.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

Source: Optimal Blue daily mortgage indices via FRED

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.


Loan Program Fit

Picking the right loan type for where you are

Not all mortgages work the same way, and the program that's perfect for one person can be wrong for another. Some borrowers want the security of a fixed rate that never changes. Others qualify for programs with more flexibility built in. Then there are those with unique situations — maybe you're self-employed, have a recent credit bump, or are buying an investment property. The point is, loan programs exist for different goals and circumstances. The right one depends on your timeline, your income, how long you plan to stay in the home, and your comfort level with change. I've worked with borrowers who thought they had only one option, then discovered a program that fit them better. It's worth a real conversation to see what's actually available to you.

Let's talk through which loan program makes sense for your situation.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.

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.

2.

Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.

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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

M

My Mortgage Company

Jesseca Hendricks

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