Mortgage Market Update

Joey Rivero

Clear Choice Lending Group

Wednesday, September 16, 2026

The loan type question nobody asks

Hi there—I'm thinking about something I see borrowers overlook all the time. Here's what I mean:

National Mortgage Rates · September 10, 2026

Conventional 30-Year

6.76%

FHA 30-Year

6.72%

VA 30-Year

6.62%

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.

Mortgage Basics

Why your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose—fixed, adjustable, conventional, FHA, VA, or USDA—shapes your entire borrowing experience. Each one has different rules about down payments, credit requirements, how long your rate stays locked in, and what happens to your payment over time. The right choice depends on your timeline, how stable your income is, and how comfortable you feel with change. A loan that works perfectly for one person might create stress for another. I'd like to help you understand which structure actually fits your life and goals, not just which rate looks cheapest today.

Let's talk through your situation and find the loan type that makes sense for you.

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.

Tips for Homeowners

VA Loans: Benefits Every Veteran Should Know

1.	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.

2.	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.

3.	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.

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

Your Mortgage Advisor

Joey Rivero

Clear Choice Lending Group

jrivero@mycclg.com

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