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Mortgage Market Update
My Mortgage Company
Trishana Kimble — Trishana Kimble
Thursday, September 3, 2026
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Your closing disclosure explained |
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One of the biggest shocks for first-time buyers happens at the closing table. Here's what's really in those costs — and what you can do about them.
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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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Closing Costs
What you're actually paying at closing
Closing costs catch a lot of people off guard. Beyond your down payment, you're looking at appraisal fees, title insurance, inspections, attorney fees, and lender charges — they typically run between two and five percent of your loan amount. The good news: many of these are negotiable, and some lenders or sellers may be willing to help cover them depending on market conditions and your situation. Understanding what's in that closing disclosure ahead of time means no surprises on signing day. I always walk my clients through a full estimate early so they know exactly what to budget for. If you're buying soon or curious about what your closing costs might look like, let's talk through the numbers.
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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 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
Trishana Kimble — Trishana Kimble
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