Mortgage Mom Radio Weekly - August 7, 2026
Happy Friday — Mortgage Mom here. The 30-year is sitting at 6.77% again this week — quiet on the rate front, which is honestly not the worst news when you're trying to plan.
Happy Friday — Mortgage Mom here. The 30-year is sitting at 6.77% again this week — quiet on the rate front, which is honestly not the worst news when you're trying to plan. Inside this week's issue I walked through Self-employed on a $1,000,000 purchase: Full Doc vs Bank Statement so you can see the actual monthly payment math side by side. And on the show this week we dug into "Homeowners Insurance is killing deals at closing" — recap is down below with the full replay link. If you're running numbers on your own situation and want a real answer — not a maybe — text MOM to 844-935-3634 anytime. That's what I'm here for. — Debbie Rates this week
30yr held flat at 6.77% (unchanged from last week's 6.77%).
Source: Freddie Mac PMMS · Mortgage News Daily · US 10-Year Treasury Rates shown are national averages from third-party sources for illustrative purposes only. APR estimates use industry-standard fee uplifts and will vary based on borrower qualification, loan amount, and specific fees. Not a commitment to lend. This week's scenarioSelf-employed on a $1,000,000 purchase: Full Doc vs Bank Statement Self-employed buyer putting 20% down ($200,000) on a $1,000,000 home - same house, two different ways to document income
A full doc loan uses two years of tax returns to document income, and when a self-employed borrower's returns support the numbers, it earns the best pricing - here, 7.00% with no points. A bank statement loan qualifies off 12 to 24 months of bank deposits instead of tax returns, which can be the difference between an approval and a denial for business owners who write off aggressively. The trade-off on this example is about 0.375% more in rate plus two points, roughly $16,000 upfront, and around $200 more per month in principal and interest. For many self-employed buyers, that flexibility is exactly what gets the deal done - the key is comparing both paths with a licensed professional before assuming either one. For illustrative purposes only. Not a commitment to lend. Actual rates, payments, and eligibility depend on full underwriting and will vary based on credit score, debt-to-income, loan-to-value, property type, occupancy, reserves, and specific investor or agency overlays. Rates and terms shown reflect national averages on the date pulled and are subject to change without notice. Estimated property taxes and homeowners insurance are based on national averages and will vary depending on the specific area where the property is located. On the show this week
● IN CASE YOU MISSED IT Catch up on recent shows A few recent shows worth catching up on:
● SPREAD THE WORD Know someone who needs this?
Shopping, refinancing, or on an HOA board?
|
