Mortgage Update – July
Throughout July, mortgage rates increased for four consecutive weeks, reaching their highest level of 2026 and the highest point in nearly 11 months.
If you're planning to buy a home or refinance, now is a great time to plan ahead. While rates have moved higher, there are still financing options available that can help reduce your monthly payment during the early years of your loan.
1-0 Buydown Extended Through August 31
The popular 1-0 Buydown program, which lowers your interest rate by 1% during the first year of your mortgage, has been extended through August 31.
While the program is no longer completely free, it now costs only 0.25 discount points (25 bps)—a relatively small upfront cost that can significantly reduce your monthly mortgage payment during your first year of homeownership.
If you're planning to purchase a home soon, this can be a great way to ease your initial monthly payment.
Throughout July, mortgage rates increased for four consecutive weeks, reaching their highest level of 2026 and the highest point in nearly 11 months.
If you're planning to buy a home or refinance, now is a great time to plan ahead. While rates have moved higher, there are still financing options available that can help reduce your monthly payment during the early years of your loan.
1-0 Buydown Extended Through August 31
The popular 1-0 Buydown program, which lowers your interest rate by 1% during the first year of your mortgage, has been extended through August 31.
While the program is no longer completely free, it now costs only 0.25 discount points (25 bps)—a relatively small upfront cost that can significantly reduce your monthly mortgage payment during your first year of homeownership.
If you're planning to purchase a home soon, this can be a great way to ease your initial monthly payment.
VantageScore® 4.0: More Borrowers May Qualify for a Mortgage
Your credit score plays an important role in determining your mortgage eligibility and interest rate.
Traditionally, most mortgage loans have relied on FICO® Scores. This has made it challenging for borrowers who are new to the U.S., have limited credit history, or haven't established traditional credit.
We're excited to now support VantageScore® 4.0, giving more borrowers additional opportunities to qualify for a mortgage.
This may benefit:
- First-time homebuyers
- New immigrants
- Borrowers with limited credit history
- Those who may not qualify using traditional credit scoring models
If you're unsure whether your credit history is strong enough to qualify, we'd be happy to review your options and help you find the right loan program.
No Credit Score? A Co-Borrower May Still Qualify
Another exciting program update:
A co-borrower may now be eligible for a mortgage even without a credit score, as long as the primary borrower meets the required credit qualifications.
This program can be especially helpful for:
-
Newly arrived immigrant families
-
Spouses who recently moved to the U.S.
-
Individuals with stable employment but little or no established credit history
If you've previously been told that a co-borrower's lack of credit prevented you from qualifying, this new guideline may provide a solution. Contact us for a free mortgage consultation to see if you qualify.
Another exciting program update:
A co-borrower may now be eligible for a mortgage even without a credit score, as long as the primary borrower meets the required credit qualifications.
This program can be especially helpful for:
- Newly arrived immigrant families
- Spouses who recently moved to the U.S.
- Individuals with stable employment but little or no established credit history
If you've previously been told that a co-borrower's lack of credit prevented you from qualifying, this new guideline may provide a solution. Contact us for a free mortgage consultation to see if you qualify.
Financing for Hobby Farms & Rural Properties
Have you been dreaming of owning a home with acreage, a horse property, or a small hobby farm?
Many of these unique properties don't fit traditional mortgage guidelines because of their larger land size or features such as barns, stables, or agricultural buildings. As a result, many buyers assume financing isn't available.
The good news is that specialized financing options are available.
This program can finance properties with up to 160 acres and may even allow certain types of agricultural income to help borrowers qualify.
If you're searching for your dream rural property—or you've been told your property is too unique for a traditional mortgage—I'd be happy to review your options and help you find the financing that best fits your needs.
Have you been dreaming of owning a home with acreage, a horse property, or a small hobby farm?
Many of these unique properties don't fit traditional mortgage guidelines because of their larger land size or features such as barns, stables, or agricultural buildings. As a result, many buyers assume financing isn't available.
The good news is that specialized financing options are available.
This program can finance properties with up to 160 acres and may even allow certain types of agricultural income to help borrowers qualify.
If you're searching for your dream rural property—or you've been told your property is too unique for a traditional mortgage—I'd be happy to review your options and help you find the financing that best fits your needs.