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Mortgage Market Update
Alessandro Mungioli
Alessandro Mungioli
Thursday, September 3, 2026
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Down payment questions? Let's sort them out |
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Hi there. This week I want to tackle something I hear about constantly: figuring out how much to put down when you buy or refinance.
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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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Smart Borrowing
Why your down payment size matters more than you think
The amount you put down when you buy shapes your whole loan experience—not just at closing, but for years after. A larger down payment can mean a lower monthly payment, no mortgage insurance requirement, and better loan terms overall. But here's what surprises people: you don't need to max it out to make a smart move. The right down payment for you depends on your savings, your comfort level, and what makes sense for your financial picture. If you're stuck wondering how much is enough, or whether you should wait to save more, that's exactly the conversation we should have. I can walk you through what different scenarios look like so you can decide what fits. Let's talk about what a down payment strategy looks like for your situation.
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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 Alessandro Mungioli team any time and we'll walk you through your options. |
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