Mortgage Market Update

My Mortgage Company

Rene Montano

Tuesday, October 20, 2026

Picking the right loan type for you

Not all mortgages work the same way, and that matters more than you might think. Here's what you need to know.

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 your loan type really means for your budget

When you're shopping for a mortgage, you'll hear terms like conventional, FHA, VA, or USDA. These aren't just labels—they're different paths to homeownership, each with its own rules about down payments, credit requirements, and how much you can borrow. Understanding which program fits your situation helps you plan smarter and compare offers fairly. The right loan type can open doors you didn't know existed, whether you're buying with a smaller down payment, using a VA benefit, or buying in a rural area. I'd be happy to walk you through which programs you actually qualify for and what each one means for your monthly costs.

Let's talk about which loan program 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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

My Mortgage Company

Rene Montano

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