Travis Underwood · October 20, 2026

Picking the right loan type matters

Mortgage Market Update

My Mortgage Company

Travis Underwood

Tuesday, October 20, 2026

Picking the right loan type matters

There's no such thing as a one-size-fits-all mortgage. Here's why understanding your options makes a real difference.

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 Program Basics

Which loan type actually fits your situation?

A lot of borrowers don't realize there's more than one way to borrow. Fixed-rate loans, adjustable-rate options, government-backed programs—they all work differently, and the right choice depends on your timeline, risk tolerance, and how long you plan to stay in your home. Fixed rates give you payment predictability. Adjustable rates might start lower but can change over time. FHA, VA, USDA, and conventional loans each have their own rules and benefits. The wrong loan type can cost you money or peace of mind. The right one feels like it was built for your exact situation. Worth a conversation to figure out which programs you actually qualify for and which one makes sense for you.

Let's talk through 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

Travis Underwood

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