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Mortgage Market Update
Jason Erickson
Jason Erickson
Thursday, September 3, 2026
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The right loan type can change everything |
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Hi there—I hope this finds you well. This week I want to talk about something that doesn't always get enough attention: how the type of loan you choose affects far more than just your rate.
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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
Loan options matter more than you think
When you're ready to buy or refinance, the type of loan you choose shapes your whole financial picture—not just your monthly payment, but how fast you build equity, what flexibility you have, and how much you pay over time. Different programs work better for different situations: some prioritize lower upfront costs, others reward long-term stability, and some are built specifically for first-time buyers or those with unique circumstances. The right fit depends on your timeline, your comfort level, and what comes next in your life. I'd love to walk you through what's available and help you understand which one makes the most sense for where you are right now. Reach out and let's talk about which loan program fits your goals.
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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 Jason Erickson team any time and we'll walk you through your options. |
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