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Mortgage Market Update
Megan Luksha
Megan Luksha
Thursday, September 3, 2026
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Picking the right loan program matters more than you think |
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There's a lot of choice when it comes to how you finance a home. Understanding what each option really does for you is the first step to making a smart decision.
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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 Program Guide
What your loan program actually means for your wallet
When you're shopping for a mortgage, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA. It can feel like alphabet soup, but here's what matters: your loan program shapes how much you pay each month, how much risk you take on, and what flexibility you have down the road. A fixed-rate loan keeps your payment steady for the life of the loan. An adjustable-rate starts lower but can change. Government-backed programs like FHA and VA have different down payment and credit requirements. There's no one-size-fits-all answer—the right program depends on your timeline, comfort level with payment changes, and what you qualify for. I'd love to walk you through which programs make sense for your situation. Let's talk about which loan program fits your goals.
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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 Megan Luksha team any time and we'll walk you through your options. |
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