Mortgage Market Update

My Mortgage Company

Nicholas Drescher

Friday, November 6, 2026

The loan program that works best for you

Hey there. This week I want to walk you through something that shapes your whole mortgage experience: which type of loan you choose.

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

Not all mortgages are created equal

If you've been shopping around or just curious about your options, you've probably heard terms like conventional, FHA, VA, and USDA thrown around. The truth is, which loan program works best for you depends on your situation—your down payment, credit history, military status, or where you're buying. Some programs are more flexible on credit; others require less money down. Some have different rules about what kind of property qualifies. I've seen borrowers save real money just by matching the right program to their circumstances. It's worth understanding what's actually available to you, not just what a lender happens to mention first.

Let's talk about which loan type fits your goals—reach out anytime.

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

Nicholas Drescher

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