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Saturday, October 31, 2026 |
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Mortgage Market Update
Loan programs aren't one-size-fits-all
Not every mortgage works the same way—and that's by design. Here's what you need to know about choosing the right loan for your life.
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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
Why your neighbor's mortgage might work differently than yours
Not all mortgages are created equal—and that's actually good news for you. Different loan programs exist because different borrowers have different situations. One person might benefit from a program that lets them put down less upfront. Another might qualify for terms that adjust over time. A third might find that a fixed rate for the full loan term is the right fit. The program you choose affects your monthly payment, how much you need to save before closing, and what happens to your rate years from now. Understanding which programs you actually qualify for—and why one might make more sense than another for your goals—can make a real difference in your financial picture. I'd like to walk through your options and find what works best for your specific situation. Let's talk about which loan program makes sense for where you are right now.
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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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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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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 Jon Puente team any time and we'll walk you through your options.
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5860 Baker Road, Minnetonka, MN, 55345
269-599-3395
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