(505) 836-5700

Give Us A Call

(505) 836-5700

click to call

Monday, 17 July 2017 06:00

Keep Your Purchase Local

Many out-of-state and big institutional mortgage lenders promote their fast pre-qualifications and ease of use, but sometimes these offers can be misleading. Borrowers may get a fast pre-qualification, but when it’s time to actually get the mortgage done, the story can change. When borrowers work with out-of-state lenders, they may never speak to the same originator who took their loan application ever again. Borrowers are left with impersonal communication with an office a thousand miles away. At Indigo Mortgage, we always tell our borrowers the importance of working with a local lender, as purchasing local has many advantages.

When borrowers work with a local mortgage broker, their loan originator is easily accessible, willing to take time to answer any questions that come up, and always available for a face-to-face conversation. A local mortgage broker like Indigo Mortgage is willing to take time to speak with the borrower, realtors, sellers, and title companies involved, to ensure a smooth mortgage process for clients, from application to funding.

Not only are the lending experts at Indigo Mortgage always there for customers, but we have a track record of finding the best rates and terms on the market. So don’t work with an out-of-state lender or a large national bank. Contact Indigo Mortgage for personalized help with your loan.

Published in Blog
Tuesday, 18 July 2017 12:35

KKOB on July 18

This morning on KKOB, Ben Lucero explains why working with a local mortgage broker has major advantages over borrowing from a big bank or national lender.

Published in Radio
Monday, 10 July 2017 06:00

KKOB on July 11

On KKOB this morning, Ben Lucero discusses why it's so important to shop around before accepting a loan proposal. Learn how you can save money on your mortgage loan.

Published in Radio
Monday, 10 July 2017 06:00

13 Billion Dollar Shopping Cost

At Indigo Mortgage, we always urge our clients to shop around for their mortgage loans, and for good reason. The Consumer Financial Protection Bureau (CFPB), the federal governing agency responsible for consumer financial protection, just conducted a national survey and found that only 50% of consumers bothered to shop around and research their mortgage loan. Those consumers who did not shop around ended up having to pay $13 billion in fees, fees that could have been avoided.

According to the CFPB’s findings, borrowers took their first offer from a large institutional lender, internet lender, or a national bank. “Consumers put great thought into the choice of a home, but the mortgage process continues to be intimidating” says CFPB Director Richard Cordray, “Shopping for a loan can save big dollars in the long run.”

Rates can vary as much as ½ a percent from one lender to the next, and even at the same rate, the closing costs can vary by several thousand dollars. Don’t assume that your lender is going to give you the best deal. At Indigo Mortgage, we believe that an educated borrower can save themselves thousands of dollars by making an informed choice. If you have any questions about your mortgage loan, call Indigo Mortgage, we will be happy to answer your questions and show you the important elements of loan proposals, so you can save money!

Published in Blog
Monday, 19 June 2017 21:58

The Right Questions

When you’re shopping for a mortgage, it’s important to do your research and ask the right questions. The lending experts at Indigo Mortgage have seen many people opt to purchase a mortgage loan simply because of the low rate, without considering what it’s costing them to get that low rate. It’s important to recognize that a low rate doesn’t always translate to saved money.

Published in Blog
Monday, 01 May 2017 22:28

VA Jumbo Loans

Indigo Mortgage is one of the largest mortgage brokers in New Mexico, and as such, we close more VA Loans than anyone else in the state. In last week’s blog, we offered some general information about veteran’s loans, but this week we want to offer some more specific advice about VA Jumbo Loans.

Published in Blog
Tuesday, 25 April 2017 22:26

KKOB on April 25

Indigo Mortgage is New Mexico's #1 VA Loan mortgage broker. Ben Lucero discusses some of the basic information that every veteran should know about VA Loans.

Published in Radio
Monday, 24 April 2017 22:16

General Information About VA Loans

At Indigo Mortgage, our VA loan division closes more VA loans than any other mortgage company in New Mexico. Here’s some basic information for veterans who are interested in this type of loan.

Borrowers can have multiple VA loans. If all previous VA loans have been paid off, a veteran can take out another loan. In fact, a veteran can have two VA loans simultaneously. Borrowers can split their entitlement and purchase two properties, as long as both loans do not exceed a combined total of $417,000, the new loan is over $144,000, and the new VA loan is an owner-occupied loan.

VA allows 100% cash-out on refinances. If a lender tells you that they only allow 90%, keep looking. At Indigo Mortgage, we offer 100% cash out, without compromising our low rates.

VA now allows jumbo mortgages. Borrowers can get mortgage loans over $417,000.

The VA never requires mortgage insurance, but there is a funding fee. The funding fee can be waived if the veteran receives 10% or more disability.

Be wary of lenders offering outrageously low rates. Typically, when a lender offers unbelievably low rates, they’re adjustable rate mortgages, not fixed rate mortgages. These types of mortgages can be very expensive to buy down, and aren’t really worth it.

Keep it local. When you’re shopping for a VA loan, remember to shop local. A local mortgage broker like Indigo Mortgage is easier to work with face to face, and can often save you money!

Published in Blog

As one of New Mexico’s largest mortgage brokers, Indigo Mortgage can offer some advantages to homeowners and prospective homeowners. We believe that no one cares more about your mortgage loan. We work for the borrower, and not the bank. Our goal is to find you the best rate on the market, and save you money!

As a mortgage broker, we can represent our borrowers to a number of different mortgage lenders. This saves the consumer time, and money, because we can find the lowest rate on the market. Banks and other national lenders are limited to offering rates from their rate sheets. Often this is not the best rate for the consumer.

By law, as a mortgage broker, our compensation must be set as a percentage of the loan amount. Most of the time, this is covered by the lender and paid in the rate. If the chosen rate is more than our compensation, whatever is above our fee is credited to the borrower via lender credits. Banks and net branches however, pocket whatever exceeds their fees for profit. In contrast, we have seen many FHA and VA borrowers pay off all of their closing costs using the lender credits we provide, without having to pay a higher rate!

So how do you know if you are working with a bank, net branch, or a mortgage broker? Ask yourself, do the underwriters and loan originators work for the same company? If they do, that means they work for the bank, and not for you. A local broker like Indigo Mortgage however, works for you, the customer, not the bank. If you are searching for a new home or are looking to refinance, contact Indigo Mortgage.

Published in Blog
Wednesday, 04 January 2017 00:02

Broker vs. Bank: What's the Difference?

At Indigo Mortgage, we understand that borrowers looking for a mortgage loan have plenty of options these days. But when it comes to choosing between a broker like us, or a bank, it’s important to know what the key differences are. Knowing the distinction between the two can mean thousands of dollars in savings!

Published in Blog
Page 1 of 4

Warning: mysqli::stat(): Couldn't fetch mysqli in /home/indmortgage/public_html/libraries/joomla/database/driver/mysqli.php on line 209

Warning: mysqli_close(): Couldn't fetch mysqli in /home/indmortgage/public_html/libraries/joomla/database/driver/mysqli.php on line 216

Warning: mysqli::stat(): Couldn't fetch mysqli in /home/indmortgage/public_html/libraries/joomla/database/driver/mysqli.php on line 209

Warning: mysqli_close(): Couldn't fetch mysqli in /home/indmortgage/public_html/libraries/joomla/database/driver/mysqli.php on line 216

Warning: mysqli::stat(): Couldn't fetch mysqli in /home/indmortgage/public_html/libraries/joomla/database/driver/mysqli.php on line 209

Warning: mysqli_close(): Couldn't fetch mysqli in /home/indmortgage/public_html/libraries/joomla/database/driver/mysqli.php on line 216

Warning: mysqli::stat(): Couldn't fetch mysqli in /home/indmortgage/public_html/libraries/joomla/database/driver/mysqli.php on line 209

Warning: mysqli_close(): Couldn't fetch mysqli in /home/indmortgage/public_html/libraries/joomla/database/driver/mysqli.php on line 216