Mortgage Market Update

My Mortgage Company

Jose Treto

Friday, November 6, 2026

Picking the right loan type for your situation

Hi there. This week I want to dig into something that doesn't always get enough attention when people are hunting for a mortgage.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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 Programs

Why your loan choice matters more than you think

When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose—conventional, FHA, VA, USDA, or another program—shapes your entire borrowing experience. Different programs come with different requirements for down payment, credit score, and property type. Some offer more flexibility if your finances are tight; others reward you for putting more money down. The right program for you depends on your situation, not just on chasing the lowest rate you can find. I'd love to walk you through which programs you actually qualify for and why one might fit your goals better than another.

Let's talk about which loan program makes the most sense for you.

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

My Mortgage Company

Jose Treto

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