Scott John Millich · October 20, 2026

Which mortgage type is right for you?

Mortgage Market Update

My Mortgage Company

Scott John Millich

Tuesday, October 20, 2026

Which mortgage type is right for you?

There's more than one way to borrow for a home, and the differences matter. Here's what you should know.

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

When you're ready to buy or refinance, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA thrown around. They're not just different names—they're built differently, with different rules about how your rate and payment work, how much you need to put down, and what kinds of homes qualify. The right program for your neighbor might not be right for you. The key is understanding what each one actually does and which one matches your situation, your timeline, and your comfort level. If you've been shopping around or just curious about your options, I'd love to walk you through what's available and help you see which one makes sense.

Let's talk about which loan program fits your goals.

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

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My Mortgage Company

Scott John Millich

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