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Mortgage Market Update
Eric Halverson
Eric Halverson
Tuesday, November 3, 2026
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Why your loan type matters more than you think |
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Hi there. This week I want to dig into something that often gets overlooked when people are shopping for a mortgage: the loan program itself.
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National Mortgage Rates · October 30, 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
What your loan type really costs you
Your mortgage isn't just one product—it's a bundle of choices that add up. Fixed versus adjustable. Conventional, FHA, VA, USDA. Shorter loan terms or longer ones. Each choice carries different costs and benefits over time, and what works for your neighbor might not work for you. The right fit depends on how long you plan to stay, your comfort with change, and what you can actually afford today and tomorrow. If you've never had a full conversation about why one program might serve you better than another, it's worth having. I can walk you through the real trade-offs without the sales pitch. Let's talk about which loan program actually fits your situation.
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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 Eric Halverson team any time and we'll walk you through your options. |
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