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Mortgage Market Update
My Mortgage Company
Pooja Oberoi
Tuesday, October 20, 2026
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Down payment: bigger doesn't always mean better |
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Every dollar you put down at closing has ripple effects on your loan and your budget. Here's what's actually worth thinking about.
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National Mortgage Rates · October 16, 2026
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Conventional 30-Year
7.28%
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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.
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Loan Programs
What your down payment amount really controls
Your down payment does more than just lower your loan balance—it shapes which programs you qualify for and what your overall costs look like. A smaller down payment doesn't automatically disqualify you; it may open up different loan types with their own advantages. A larger down payment can reduce your monthly obligation and eliminate mortgage insurance, but it also ties up cash you might use elsewhere. The right choice depends on your situation, not on what sounds biggest. I help borrowers think through this tradeoff all the time, and the answer is rarely one-size-fits-all. If you're planning to buy or wondering whether your current equity position gives you new options, let's talk through what makes sense for you. Reach out and we can look at how your down payment strategy fits your bigger financial picture.
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Tip of the Week
Your loan officer can run a credit simulator to show exactly which actions will move your score the most.
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Tips for Homeowners
Year-End Tax & Mortgage Planning
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1.
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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).
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2.
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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.
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3.
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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.
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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. |
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Your Mortgage Advisor
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My Mortgage Company
Pooja Oberoi
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