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Mortgage Market Update
Marc Sears
Marc Sears
Thursday, September 3, 2026
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What type of mortgage fits you best? |
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Hi there. This week I want to walk you through something that often gets overlooked: choosing the right loan program for your needs.
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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 loan type works best for your situation?
Not all mortgages are the same, and picking the right one matters more than most people realize. Whether you're a first-time buyer, refinancing, or exploring a cash-out option, the loan program you choose affects your payment, flexibility, and long-term costs. Conventional loans, FHA, VA, and USDA programs each have different strengths depending on your credit, down payment, and goals. Some borrowers benefit from adjustable rates early on; others need the stability of a fixed term. The right fit depends entirely on your circumstances—not what worked for your neighbor. Let's talk through which program aligns with where you are 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 Marc Sears team any time and we'll walk you through your options. |
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