Mortgage Pro · October 31, 2026

What type of mortgage do you actually have?

Mortgage Market Update

Matt Combs

Mortgage Pro

Saturday, October 31, 2026

What type of mortgage do you actually have?

Hi there. Each week I share what's on my mind about mortgages and home finance.

National Mortgage Rates · October 29, 2026

Conventional 30-Year

7.15%

FHA 30-Year

7.04%

VA 30-Year

6.79%

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 Programs

Not all mortgages work the same way

One thing I notice is that a lot of borrowers think they know what loan program they have—or what's available to them—but there's actually more flexibility than most people realize. Fixed-rate mortgages, adjustable-rate options, FHA loans, conventional programs, portfolio loans—they all have different rules about what you can borrow, what your credit needs to be, what down payment works, and how your payment behaves over time. The right choice depends on your situation: how long you plan to stay in the home, your comfort with payment changes, your down payment amount, and what your lender can offer. I'd love to walk you through what might make sense for your goals.

Let's talk about which loan program fits your situation best.

Tip of the Week

Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.

Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.

2.

The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.

3.

There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Matt Combs team any time and we'll walk you through your options.

Your Mortgage Advisor

M

Matt Combs

Mortgage Pro

matt@mtg-pro.com

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