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Mortgage Market Update
My Mortgage Company
Stephanie Washington — Stephanie Washington
Thursday, August 20, 2026
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What your down payment really does |
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Hi there — I wanted to share something borrowers often overlook when they're planning their next move. Your down payment is more powerful than you might think.
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National Mortgage Rates · August 13, 2026
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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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Smart Money
Why your down payment size still matters
The size of your down payment affects more than just your monthly payment — it shapes your entire loan. A larger down payment typically means a lower loan amount, which can open doors to better terms and save you money over time. It also affects whether you'll pay mortgage insurance and how much equity you start with on day one. If you're thinking about buying soon or refinancing, understanding how your down payment works is worth a conversation. I'm here to walk you through how different scenarios might play out for your situation. Let's talk about what down payment option makes sense for you.
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Tip of the Week
If your credit score is below 740, even small improvements before applying for a mortgage can save you thousands over the life of the loan.
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Tips for Homeowners
Weatherproofing Your Home Before Winter
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1.
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Clean your chimney if you have a fireplace. The National Fire Protection Association recommends annual inspection and cleaning to prevent chimney fires.
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2.
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Check attic insulation and ventilation before winter. Inadequate insulation leads to heat loss, higher energy bills, and ice dams on the roof that can cause significant damage.
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3.
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Inspect weatherstripping on all exterior doors. A simple dollar-bill test works: close the door on a bill — if you can pull it out easily, your weatherstripping needs replacing.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Stephanie Washington — Stephanie Washington
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