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Mortgage Market Update
OHL
OHL
Thursday, September 3, 2026
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One way to shorten your mortgage faster |
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Hi there. I want to share a straightforward strategy that can make a real difference in your financial picture—no rate changes or new loans required.
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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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Prepayment Power
Small extra payments, big long-term wins
One of the smartest moves a homeowner can make doesn't require refinancing or waiting for rates to drop—it's simply paying a little extra toward principal whenever you can. Even modest amounts add up over time, shortening your loan and reducing the total interest you'll pay. Some borrowers round up their monthly payment; others put a bonus check toward principal once or twice a year. The key is consistency and making sure your lender applies it correctly. If you've ever wondered whether your extra dollars are actually working for you, or whether it's worth the effort, I'd love to walk you through the math on your specific loan. Reach out if you'd like to see how prepayment could reshape your mortgage timeline.
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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 OHL team any time and we'll walk you through your options. |
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