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Finding a commercial lender for your business property isn’t always easy. Each lender determines what risk they are willing to take on a particular type of commercial transaction—some lenders will not fund certain types of businesses-- and then, if that category fits their criteria, they will move on to review…
At Indigo Mortgage, we sometimes have unique challenges to find an organization the right commercial loan. This last week, we successfully secured financing for a few different property types. We got commitment letters on an auto repair shop, an assisted living facility and a church loan.
Purchasing a home or refinancing a current mortgage today means that you have lots of options. Using a locally owned mortgage broker has several important advantages. Indigo Mortgage is a locally owned and operated broker and both of those points are important. As a broker, Indigo Mortgage has access to…
Tuesday Jan 14, 2014

Qualified Mortgages 2014

By now, most people have probably heard murmurs about changes in mortgage lending starting this year. What most consumers are concerned about is called QM or the Qualified Mortgage. A QM requires lenders to determine a borrower’s ability to repay. Gone are the stated income, no doc and negative amortization…
Out of state lenders including big-name banks may take local mortgage applications, but they process and underwrite those loans out-of-state. Once the application is completed, that loan is then transferred out of state. Because of this, many borrowers are faced with impersonal, cumbersome and untimely response times. Here’s an example…
The November employment report brings good news to the economy! It should also serve as a wake-up call to mortgage borrowers, as it could mean higher interest rates. Normally when the jobs report exceeds economists' expectations, mortgage rates climb as investors gain confidence to bet on riskier investments. The central…
The Reverse mortgage is really an awesome tool for seniors in the right circumstances, but there has been a lot of bad press and misinformation put out on reverse mortgages, so I’ll try and correct some of that and discuss some of the new information on reverse mortgages that some…
Tuesday Nov 26, 2013

Lender Credits Revisited

In other blogs I've briefly discussed lender credits. Today, I want to circle back and talk about lender credits being offered on FHA and VA or veterans’ loans. These lender credits are saving borrowers thousands of dollars in closing costs and very few lenders even offer them. Essentially, lender credits…
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