Mortgage Market Update

My Mortgage Company

Julie Gallegos

Tuesday, October 20, 2026

Which loan type works for you

Every borrower is different, and your mortgage should reflect that. This week I want to walk you through how to think about loan programs.

National Mortgage Rates · October 16, 2026

Conventional 30-Year

7.28%

FHA 30-Year

7.13%

VA 30-Year

6.93%

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

What type of loan actually fits your situation

When you're shopping for a mortgage, you'll hear terms like conventional, FHA, VA, and USDA thrown around. Each one has different rules about down payments, credit requirements, and who qualifies. The right choice depends on your specific circumstances—your credit history, how much you have saved, your income, and whether you're a first-time buyer or military service member. Picking the wrong program can mean higher costs or unnecessary barriers. I help borrowers cut through the noise and find the loan that actually works for their situation, not the one that sounds fanciest.

Let's talk about which program makes sense for you.

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

My Mortgage Company

Julie Gallegos

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