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Mortgage Market Update
My Mortgage Company
Dana Fleischman
Friday, November 6, 2026
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The loan program question nobody asks |
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Hi there. I spend a lot of time helping people understand their options, and I wanted to share something that comes up every single week.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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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.
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Loan Program Fit
Not all mortgages work the same way
One of the biggest mistakes I see is borrowers picking a loan program because a friend recommended it—or worse, because they didn't realize other options existed. The truth is, your situation is unique. Whether you're a first-time buyer, someone with a smaller down payment, a self-employed earner, or a homeowner with an irregular income, there are programs designed specifically for people like you. Some offer more flexibility with credit. Others help if your debt-to-income ratio is tight. Some let you put less down and still avoid extra insurance costs. The right program can mean the difference between getting approved and getting rejected, or between a payment you can afford and one that stretches your budget too thin. I'd love to walk through what's available for your specific situation. Let's talk about which loan program makes the most sense for you.
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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.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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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.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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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.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Dana Fleischman
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