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Mortgage Market Update
Johnny DuRocher
Johnny DuRocher
Monday, September 14, 2026
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What happens when you apply for a mortgage |
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A lot of borrowers wonder what happens behind the scenes when they submit an application. Let me pull back the curtain a bit.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages 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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Getting Ready
What lenders actually look at when you apply
If you're thinking about buying or refinancing soon, it helps to know what we're reviewing before you sit down at the table. We look at income, credit history, existing debts, employment stability, and how much you have saved for a down payment or closing costs. The stronger your overall financial picture, the better your options tend to be. That doesn't mean you need to be perfect—most borrowers aren't—but understanding what matters lets you shore up any soft spots before applying. If you'd like to talk through where you stand and what we might focus on, I'm here to walk you through it.
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Tip of the Week
Gift funds from family can be used toward a down payment on most loan types — your lender will need a simple gift letter.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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VA loans require no down payment and no private mortgage insurance (PMI), making them one of the most powerful home-buying tools available to eligible veterans, active-duty service members, and surviving spouses.
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2.
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VA loans do require a funding fee (typically 1.25%–3.3% of the loan amount), which can be rolled into the loan. Veterans with a service-connected disability rating may be exempt from this fee.
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3.
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There's no VA loan limit for eligible borrowers with full entitlement — you can finance as much as a lender will approve. If you've had a prior VA loan, partial entitlement rules may apply.
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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 Johnny DuRocher team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150 Chandler AZ 85286
https://johnnydurocher.theradcrm.com/home
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