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Building your own home instead of buying an existing home, allows homeowners a lot of flexibility. Building allows homeowners to live in a home that’s custom to their lifestyle, preferences and needs. However, if it’s your first time building a home, you may have some questions about financing. At Indigo…
At Indigo Mortgage, we always advise borrowers to shop local when they’re looking to pre-qualify for a mortgage. Online lenders and big out-of-state banks will often pre-qualify a borrower up front, but they will process and underwrite the loan out-of-state. Borrowers will then be faced with impersonal customer service and…
Many borrowers come to Indigo Mortgage and tell us that they are constantly bombarded with solicitations from large out-of-state lenders. When consumer credit report agencies like Equifax, Transunion and Experion pull credit reports, they automatically sell borrower’s information to lenders nationwide. Many of these big lenders take this information and…
Tuesday Feb 27, 2018

Reverse Mortgage Education

Most seniors have seen the ads on television, received the emails or the postcards in the mail. Advertisements for reverse mortgages are everywhere. At Indigo Mortgage, unlike large national lenders or big banks, we advise caution for seniors considering reverse mortgages. We know that there are many factors to take…
Monday Feb 12, 2018

2018 Loan Limit Increase

At the beginning of 2018, it was announced that the limit for conventional, FHA and VA loans would increase. Prior to this year, the highest VA loan amount a borrower could get was $423,100, but now the limit has increased to $453,100; for FHA the old limit was $275,655, but…
The Consumer Financial Protection Bureau, the government agency that oversees all financial instructions nationwide, recently conducted a survey that turned up some interesting findings. Survey results showed that 70% of borrowers that responded did not shop around when looking for a mortgage. Because of this, the amount of total overpaid…
In early December 2017, Fannie Mae and Freddie Mac, government sponsored enterprises responsible for keeping the residential mortgage market stable, made a huge announcement. Starting in January of 2018, conforming loan limits on conventional mortgages will increase from $423,100 to $453,100. What does this mean for buyers? Indigo Mortgage is…
Tuesday Nov 28, 2017

Confident Borrowers

At Indigo Mortgage, we believe knowledge is power. The more you know about the mortgage process and the state of the market, the more likely you are to find a great deal that works for your lifestyle. A recent study conducted by the Consumer Financial Protection Bureau delved into the…
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