Mortgage Market Update

Allen Reynolds

Saturday, October 31, 2026

What if your loan type was holding you back?

Hi there. This week I want to talk about loan programs—specifically, how choosing the right one can open doors you didn't know were open.

National Mortgage Rates · October 29, 2026

Conventional 30-Year

7.15%

FHA 30-Year

7.04%

VA 30-Year

6.79%

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

When a conventional loan isn't your only path

Not every borrower fits neatly into a conventional mortgage box, and that's okay. If you're self-employed, have recent credit challenges, want to put down less than twenty percent, or are a first-time buyer navigating tight finances, alternative loan programs exist to meet you where you are. FHA, VA, USDA, and portfolio programs each have their own rules and strengths—and sometimes one of them unlocks a door that seemed closed. The right program isn't always the most common one; it's the one that actually works for your situation. If you've wondered whether you qualify for homeownership or a better mortgage, there's a real chance we haven't explored every option yet.

Let's dig into which programs might work for your timeline and goals.

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 Allen Reynolds team any time and we'll walk you through your options.

Your Mortgage Advisor

Allen Reynolds

areynolds@power-lending.com

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