Mortgage Market Update

Joe Almeida

Tuesday, October 20, 2026

Picking the right loan type for your situation

One of the biggest decisions in the mortgage process happens early—and it's one a lot of borrowers don't think much about until it's too late.

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 Basics

Why your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose—conventional, FHA, VA, USDA—shapes your whole borrowing experience. Different programs have different rules about down payments, credit requirements, property types, and how much house you can actually afford. Some loans work better if you're buying your first home. Others make sense if you have a lower credit score or a smaller down payment saved. The right choice depends on your situation, not on what worked for someone else. I'd love to walk you through which loan programs might fit your goals.

Get in touch and let's talk about which loan type makes the most 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 Joe Almeida team any time and we'll walk you through your options.

Your Mortgage Advisor

Joe Almeida

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