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Consumer Financial Protection Bureau 2018 Survey

Tuesday Feb 6, 2018
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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 fees comes out to approximately 30 billion dollars, and that’s just looking at fees, not the higher rate that borrowers are settling for! At Indigo Mortgage, we always tell our customers to shop around, because we know that better rates and terms are out there, and we can help you find that perfect deal!

Never assume that your current lender is offering you the best deal, and don’t assume that your bank will offer the best terms. Often, at Indigo Mortgage, we find that internet lenders and big national lenders seem to present a good deal up front, but once you take a look at the fine print, it’s a different story. It adds up, over 15 to 30 years of paying a higher rate means that borrowers are paying thousands of dollars more in interest. This can be avoided with just a little bit of research!

At Indigo Mortgage, we will never ask to see what others are offering, and we will always send you our best offer first. If another lender has a better offer, we will advise you to take it! So please, shop around. Indigo Mortgage is always here to help you find the best mortgage for you!

Indigo Mortgage is a locally owned and operated company, serving homebuyers in Albuquerque, Rio Rancho, Santa Fe and all across New Mexico. For questions about selecting a mortgage lender, contact Indigo Mortgage in Albuquerque at (505) 836-5700. Indigo Mortgage offers five mortgage divisions including Residential, VA Loans, Reverse Mortgages, Construction and Commercial. They are licensed by the Nationwide Mortgage Licensing System (NMLS #188348), and can provide loans anywhere in New Mexico.

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