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Mortgage Market Update
Kaelan Cheatham
Kaelan Cheatham
Saturday, October 31, 2026
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Picking the right loan structure matters |
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Hi there. This week I want to talk about something that doesn't always make headlines but absolutely shapes your mortgage experience: the kind of loan you choose.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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
Not all mortgages work the same way
When you're shopping for a loan, the interest rate gets most of the attention—but the structure of your loan matters just as much. Some programs let you pay interest-only at first. Others build equity faster from day one. Some have fixed payments for life; others adjust over time. The right choice depends on your timeline, budget, and comfort level with change. If you bought years ago, you might not have explored options that exist now. If you're buying soon, understanding these differences before you commit can mean the difference between a loan that feels easy and one that feels like a weight. Let's talk about what might work best for your situation. Give me a call or send a message—I'd like to walk you through which loan type fits your goals.
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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.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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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.
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2.
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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.
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3.
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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.
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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 Kaelan Cheatham team any time and we'll walk you through your options. |
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