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Mortgage Market Update
Dylan Kirby
Dylan Kirby
Tuesday, October 20, 2026
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You don't need 20% to buy a home |
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Some of the biggest myths about mortgages keep people from buying sooner than they should. This week I want to tackle one of the biggest.
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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 happens when you can't put down 20%
A lot of people think they need to wait until they have a full 20% down payment before buying a home. That's not actually true—and it never has been. There are solid loan programs designed for borrowers with smaller down payments, and they work well for people who want to build equity now instead of saving for years. The trade-off is usually mortgage insurance, which adds to your monthly cost, but it's often worth it to stop renting and start building. If you're wondering whether you're ready to move forward with less than 20% down, I'd like to walk you through your actual options and what the real numbers look like for your situation. Let's talk about what down payment actually works for you.
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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 Dylan Kirby team any time and we'll walk you through your options. |
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