Jose L Calvo Jr — Jose Calvo Jr · November 6, 2026

Your loan type shapes more than you realize

Mortgage Market Update

My Mortgage Company

Jose L Calvo Jr — Jose Calvo Jr

Friday, November 6, 2026

Your loan type shapes more than you realize

There's a lot to think about when you're getting a mortgage. This week I want to focus on something that doesn't always get enough attention—the loan program itself.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.


Mortgage Basics

Why your loan type matters more than you think

When you're shopping for a mortgage, the interest rate gets most of the attention. But the type of loan you choose—fixed-rate, adjustable-rate, FHA, conventional, VA, or USDA—shapes your entire borrowing experience. Each one has different rules about down payments, credit requirements, how your payments work, and what happens if rates move. A loan that works beautifully for one person might not be right for another. The right fit depends on your timeline, your comfort with risk, and your financial picture. I've seen borrowers save real money and sleep better at night just by matching the right program to their actual situation. That's worth a conversation.

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

Tip of the Week

Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.

Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.

2.

Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.

Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.

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

Jose L Calvo Jr — Jose Calvo Jr

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