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Tuesday, 12 June 2018 15:25

Stay Local for Your Purchase

Finding and getting a mortgage is a lengthy process. Many national institutional lenders promote their fast pre-qualifications and ease of use, but do they really make the process easier?

Getting a mortgage isn’t like buying a pair of shoes online, it’s not a quick, one-time interaction. You will inevitably need to communicate with your lender, realtor, seller, and title company repeatedly over the course of weeks or months. Out-of-state lenders and banks, though they might give homebuyers a fast prequalification, are not easy to work with after the initial prequalification. When borrowers engage a national or out-of-state lender, they will often never speak to the same person again. The originator who took their loan application is no longer in the picture, and borrowers are left with impersonal communication with an office a thousand miles away.

Internet lenders and big institution banks are typically not willing to take time with any of the important people involved in the mortgage transaction. It’s much easier to work with a local mortgage broker like Indigo Mortgage who is accessible at any time, to all parties – realtors, sellers, buyers and the title company. Borrowers can meet us face-to-face, drop by our office anytime, and talk with the same person from application to funding.

Published in Blog
Tuesday, 03 October 2017 15:30

KKOB October 3

Today on KKOB Ben Lucero discusses why it's important to get a second opinion, and not just go with the first loan you come across.

Published in Radio
Wednesday, 04 October 2017 22:50

Second Opinions on Mortgages

When should a borrower shop their mortgage to various lenders? Certainly it’s best to do so as part of the preapproval process so that you have concrete offers to compare lenders. However, even when you’re under contract with a property, it’s not too late. As an example, we recently had a call from a local realtor, working with a veteran who was already under contract, when they realized that the veteran did not have any funds for closing costs. The seller would not contribute more.

The lender with whom the veteran was already approved did not offer any lender credits. At Indigo Mortgage, we were able to help this veteran and give him enough lender credits to cover all of his closing costs. And, we were able to offer the same mortgage rate as the other lender was offering. This is a prime example of how lender credits can help not just veterans but also FHA borrowers as well.

As another example, we just had a borrower come in directly from a local big bank. The bank told her she did not qualify for a mortgage with them and suggested she contact Indigo Mortgage.

We looked at this young lady’s situation and by analyzing her income documents and credit profile, we were able to find a loan for her. If this lady had not shopped her mortgage around, she might not have ever known she could qualify for a mortgage. As always, we suggest borrowers shop their loan around and to include a local trusted mortgage company like Indigo Mortgage. Borrowers might be surprised at what we can do for them in their home mortgage.

Published in Blog
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
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From The Blog

  • Stay Local for Your Purchase +

    Finding and getting a mortgage is a lengthy process. Many national institutional lenders promote their fast pre-qualifications and ease of Read More
  • Come to Indigo Mortgage for Your Construction Loan +

    Building your own home instead of buying an existing home, allows homeowners a lot of flexibility. Building allows homeowners to Read More
  • Stay Local for Your Pre-Qualification +

    At Indigo Mortgage, we always advise borrowers to shop local when they’re looking to pre-qualify for a mortgage. Online lenders Read More
  • Aggressive and Dishonest Lenders +

    Many borrowers come to Indigo Mortgage and tell us that they are constantly bombarded with solicitations from large out-of-state lenders. Read More
  • Reverse Mortgage Education +

    Most seniors have seen the ads on television, received the emails or the postcards in the mail. Advertisements for reverse Read More
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