Kaleb Melville — Kaleb Melville · October 20, 2026

Picking the right loan type matters

Mortgage Market Update

My Mortgage Company

Kaleb Melville — Kaleb Melville

Tuesday, October 20, 2026

Picking the right loan type matters

Not all mortgages are built the same. Here's why that matters to your wallet and your peace of mind.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%
Rate trend

Source: Optimal Blue daily mortgage indices via FRED

Rates shown are national mortgage index rates 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.

Loan Programs

Not all mortgages work the same way

If you've been looking at homes or thinking about refinancing, you've probably heard terms like fixed-rate, adjustable-rate, FHA, conventional, and VA thrown around. They're not interchangeable—each one has a different structure, qualification path, and long-term cost. Your situation (down payment size, credit profile, timeline, risk tolerance) determines which program actually makes sense for you. The right loan type can mean the difference between a payment that feels comfortable and one that stretches your budget. I'm happy to walk you through how each program works and which ones you might qualify for.

Let's talk about which loan program fits your situation best.

Tip of the Week

Your loan officer can run a credit simulator to show exactly which actions will move your score the most.

Tips for Homeowners

Year-End Tax & Mortgage Planning

1.

Consider making your January mortgage payment in December to get an extra month of deductible interest in the current tax year (consult your tax advisor first).

2.

If you plan to sell next year, now is a good time to document improvements — receipts and records add to your cost basis and reduce taxable capital gain at sale.

3.

Review your W-4 withholding if you bought a home this year — your mortgage interest deduction may mean you're having too much withheld from each paycheck.

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.

Your Mortgage Advisor

M

My Mortgage Company

Kaleb Melville — Kaleb Melville

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