Andrea Ransom · October 20, 2026

Picking the right type of mortgage matters

Mortgage Market Update

My Mortgage Company

Andrea Ransom

Tuesday, October 20, 2026

Picking the right type of mortgage matters

Hi there. This week I want to walk you through something that doesn't make headlines but absolutely shapes your monthly payment and long-term costs.

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 shopping for a mortgage or thinking about refinancing, the interest rate gets most of the attention. But the type of loan you choose—fixed-rate, adjustable-rate, FHA, conventional, VA—shapes your whole experience as a borrower. Each has different rules about down payments, credit requirements, and how your payment behaves over time. The right choice depends on your situation: how long you plan to stay, your comfort with payment changes, and what you can afford upfront. I've seen borrowers save real money by matching their loan type to their actual plans, not just chasing the lowest rate on paper. Understanding your options keeps you in control.

Let's talk through which loan program makes sense for where you are right now.

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

Andrea Ransom

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