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Mortgage Market Update
Emin Hakobian
Phast Funding
Thursday, September 3, 2026
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Which loan program is right for you? |
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Not all mortgages are built the same. This week I want to talk about why the program you choose matters.
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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
Not all mortgages work the same way
One thing I've learned talking with borrowers is that people often think a mortgage is a mortgage—but that's not quite right. Different loan programs come with different rules about down payments, credit requirements, flexibility, and long-term costs. A conventional loan works differently than an FHA loan, which works differently than a VA or USDA program. Your situation—where you're buying, what you're putting down, your credit history, your timeline—should guide which program actually makes sense for you. The right choice can mean real savings and less stress down the line. If you're not sure which program fits your life, I'd love to walk through your options and help you understand what each one means for you. Let's talk about which loan program makes the most sense 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 Emin Hakobian team any time and we'll walk you through your options. |
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