10/15/2026
Kevin Burkhardt, RE/MAX Advantage Realty. Your full-service real estate professional.
Today's Mortgage Rates and Payment Breakdown:
New Castle County, Oct. 15, 2026 — what a home actually costs you right now 🏡
Median single-family sale price: $410,000
30-yr conventional: 7.36% · FHA: 6.88% · VA: 6.96%
Fed funds effective rate: 3.88%
Conventional, 20% down ($82K down) → P&I: $2,262/mo
FHA, 3.5% down ($14,350 down) → P&I: $2,600/mo→ + MIP: $181/mo→ Total: $2,782/mo
VA, 0% down ($0 down) → P&I: $2,717/mo→ No monthly mortgage insurance → Total: $2,717/mo
The takeaway: FHA's lower rate doesn't make it cheaper. That smaller down payment means a $67,650 bigger loan, and MIP more than cancels the 0.48% advantage — about $520 more every month than conventional. Even VA, at $2,717 with nothing down, lands below FHA all-in.
The VA funding fee (2.15% for first use with 0% down, about $8,815) is usually rolled into the loan rather than paid upfront. Exempt if you're receiving VA disability compensation.
Rates move daily and lenders price by credit score.
Taxes and insurance aren't included.
Run your real numbers with a loan officer before you commit.
Kevin Burkhardt RE/MAX Advantage Realty 302-378-8700 (Office) 302-729-6885 (Direct) 1ststaterealtor.com
