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Mortgage Market Update
Justin Leach
JL Lending Team
Thursday, September 3, 2026
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You might qualify for more than you realize |
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Hi there—I wanted to share something I see often when borrowers start shopping around. Many people assume they know exactly what loan program they need, but there's usually more flexibility than they expect.
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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
Your loan options are wider than you think
When you're ready to buy or refinance, the loan program you choose matters as much as the rate itself. Beyond the standard 30-year fixed mortgage, there are programs designed for different situations—whether you're a first-time buyer, self-employed, have a shorter timeline, or want to build equity faster. Each has trade-offs worth understanding. The right fit depends on your income stability, how long you plan to stay in the home, and your comfort level with different payment structures. I've helped borrowers find programs that seemed like a perfect match for their situation, but only after we talked through what actually matters to their family. If you're unsure which path makes sense for you, I'd like to walk through your options. Let's talk about which loan program fits your goals best.
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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 Justin Leach team any time and we'll walk you through your options. |
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