Monthly Mortgage News - March 2026
Homebuyers May Get More Bang for Their Buck
SPRING MARKET EXPECTED TO IMPROVE WITH EASING RATES: Today’s lower interest rates may give prospective homebuyers the leverage to qualify for a more expensive home, without increasing their monthly payment. A common rule of thumb states that for every 0.5% drop in the 30-year fixed mortgage rate allows buyers to afford roughly 5% more home without increasing their monthly payment.

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Spring Forward with Home Renovation
If you’re considering doing home renovation this spring, this is a great time to put your financing in order. A HELOC (Home Equity Line of Credit) is a perfect solution for homeowners that need to scope out funding for major repairs or renovations. HELOCs offer a lower interest rate than credit cards or personal loans. Plus, by making improvements, you may very well increase the value of your home!
As a revolving line of credit, you can use the money whenever you need it, and you only pay interest on the amount you use. This is a boon for projects that have unexpected timelines or unforeseen cost expectations, such as a kitchen remodel, structural repairs or additions, or upgrades on an older home.
If you’re considering home improvements, give me a call to learn more about using a HELOC to fund your projects. We can also bring your CPA or tax advisor into the loop to see if your proposed renovations will qualify you for any tax deductions!
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Is FHA Right for You?
Choosing the right loan program is essential when buying a home. The Federal Housing Administration (FHA) offers government-backed loans that make homeownership more accessible for prospective buyers that may not qualify for conventional financing. Here are the top reasons to choose FHA.
Low Down Payment and Credit Requirements
A down payment of only 3.5% is required for borrowers that have a credit score of 580 or higher. If the credit score is between 500 and 579, a 10% down payment is required.
Flexible Debt-to-Income (DTI) Requirements
FHA loans often have more flexible underwriting requirements, which can be helpful if you have a higher debt-to-income ratio or unusual sources of income.
Gift Money Accepted for Down Payment
The entire down payment can be made with gift money. This can come from family members, an employer, a close friend with a documented relationship, or a charitable organization.
FHA Loans Are Assumable
If you decide to sell your home in the future, the loan is assumable. That means your buyer can get the same interest rate you currently have. This can be a great perk if interest rates have gone up.
It is important to know that most FHA loans carry a one-time upfront mortgage insurance premium (UFMIP), typically 1.75% of the loan amount. This fee can be paid at closing, but is more often rolled into the loan amount.
Additionally, FHA requires a mortgage insurance premium (MIP) which is calculated as part of the monthly mortgage payment. This may balance out in terms of monthly payment, if the FHA loan offers a lower interest rate.
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Whether you’re interested in buying a home, refinancing, or want to leverage your built-up equity, I strongly suggest a full loan analysis to compare your options. Give me a call for your free consultation!