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Mortgage Market Update
Todd Libby
Todd Libby
Thursday, September 3, 2026
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What's the right down payment for you? |
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Hello,
I want to share something that comes up in almost every conversation I have with new buyers and refinancing homeowners.
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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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Smart Money
Why your down payment size still matters
I talk with a lot of people who assume a bigger down payment is always better, but the truth is more nuanced. Yes, a larger down payment can lower your monthly payment and help you avoid mortgage insurance, but it also ties up cash you might need for emergencies, home repairs, or life. The right down payment for you depends on your savings, your comfort level, and what else matters to your financial picture. Some borrowers do better putting down 10 or 15 percent and keeping a healthy reserve. Others prefer to put down more and own their homes with less debt hanging over them. There's no universal "right" answer—only what's right for you. Let's talk through what makes sense for your situation.
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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 Todd Libby team any time and we'll walk you through your options. |
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