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Tuesday, September 22, 2026 |
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Business Partner Update
Down Payment Assistance — Mortgage Update for Realtors
Rate Snapshot · Week of September 17, 2026 |
▲ +0.19% |
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Conventional 30-Year
6.95%
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These are national average rates for the week of September 17, 2026. The 30-year fixed is at 6.95% — up 0.19% from last week, FHA at 6.8%, and VA at 6.75%. For exact rates tailored to your buyers, reach out to your loan officer directly.
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From Your Lending Partner
Your Buyers May Qualify for Free Down Payment Money — Here's How
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Down payment assistance is one of the most underused tools in our market, and most buyers don't even know it exists. I'm talking about programs that provide grants or forgivable second liens — real money that doesn't have to be paid back — specifically to help buyers get into a home. These programs are income-based and vary by county, but I work with several that cover buyers earning up to $120K annually. Combined with a low-down-payment first mortgage, we can get qualified buyers into a home with as little as $1,000 out of pocket. The catch? These programs have limited funding and move fast. I've seen allocations exhaust mid-month. The buyers I get into these programs earliest are the ones who close. If you're working with first-time buyers who keep losing to cash or larger down payments, let's talk. A well-structured DPA offer can be just as competitive as you think — and I can pre-approve your buyer under one of these programs this week.
I'll check your buyer's eligibility for DPA programs today — just send me their info.
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Did You Know?
Bridge Loans
Buy the next home before selling the current one.
A bridge loan gives move-up buyers short-term liquidity to close on a new home without waiting for their current property to sell. No sale contingency, no rushed decisions, no temporary housing.
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✓Typically 6–12 month terms with interest-only payments
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✓Secured against current home equity
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✓Available up to 80% of combined LTV
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✓Paid off at close of current home sale — clean and simple
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Share With Your Buyers
Understanding Escrow and Taxes
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1.
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Your monthly payment includes an escrow component for property taxes and insurance — this is normal.
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2.
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Escrow accounts are reviewed annually and your payment may adjust if taxes or insurance premiums change.
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3.
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You can sometimes choose to waive escrow on conventional loans with 20%+ down — ask your lender.
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4.
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Property taxes are prorated at closing — you'll likely owe a credit to the seller for their prepaid portion.
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5.
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Homeownership creates tax deductions (mortgage interest, property taxes) that renting doesn't — talk to your CPA.
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Tip of the Week
Replace weatherstripping around exterior doors every few years. It's one of the cheapest ways to improve energy efficiency.
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3900 Lennane Dr Ste 200, Sacramento, CA 95834 · 916-612-4294 · https://joethemortgagegiant.com · NMLS# 1705850 · Company NMLS# 02052578
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