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Mortgage Market Update
Veronica DeWitt
Barrett Financial
Tuesday, September 15, 2026
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Down payment: smaller than you think? |
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Hi there. I wanted to spend a moment on one of the most misunderstood parts of buying a home—and one of the biggest levers you actually control.
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National Mortgage Rates · September 10, 2026
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Conventional 30-Year
6.76%
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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.
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Loan Basics
Why your down payment matters more than you think
Your down payment does more than just reduce what you borrow. It shapes your interest rate, your monthly payment, whether you'll pay mortgage insurance, and how much equity you own from day one. A larger down payment generally means a lower rate and no PMI—but putting down less doesn't disqualify you. Many borrowers qualify with much smaller down payments than they assume, and some programs are designed exactly for that. The key is understanding how your specific down payment affects your total loan cost, so you can make a choice that fits your situation, not someone else's.
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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.
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Tips for Homeowners
VA Loans: Benefits Every Veteran Should Know
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1.
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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.
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2.
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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.
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3.
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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.
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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 Veronica DeWitt team any time and we'll walk you through your options. |
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5750 Sunrise Blvd Ste 130 ECitrus Heights, CA 95610
5103968994 | www.dewitthomeloans.com
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