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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
Tuesday, 18 April 2017 16:03

KKOB April 18

Working with a mortgage broker like Indigo Mortgage provides borrowers with many advantages. Ben Lucero discusses how a local broker can save you money on your loan or refinance.

Published in Radio

The possibility of an interest rate hike that affects mortgages is on everyone’s mind. The Federal Reserve may make the announcement this month and many are concerned about what this will mean for interest rates in the short-term. Indigo Mortgage would like to reassure you that even if mortgage rates rise, there are steps you can take now to protect yourself and ensure that your mortgage payments stay as low as possible.

First of all, the forces that determine mortgage interest rates have already taken the possible rate hike into consideration, and we’ve been seeing rates tick up for the past couple of months. If mortgage rates rise, they will rise gradually throughout 2017, but should remain within 1% of where they are now.

The interest rates that will be immediately affected are variable rates, such as Home Equity Lines of Credit (HELOC) and credit card interest rates. If the .25% rate increase is put into effect, then you will see HELOCs and credit card interest rates rise by .25% each quarter in 2017. By this time next year, you can expect those rates to be at least 1% higher than they are now. It’s possible that the rate of change may increase so that variable rate changes could become substantial.

It’s possible that interest rates may rise, so Indigo Mortgage invites you to take action now to keep your payments as low as possible. Consider getting a low fixed rate on your HELOC or refinance your current mortgage to take out some equity and pay off high balance credit cards. Indigo Mortgage is always here to help and answer any mortgage questions you may have!

Published in Blog
Monday, 28 November 2016 21:06

KKOB on November 29

Today on KKOB, Ben Lucero talks about the dangers of holding onto a home equity line of credit for too long, and what the potential rate increase next month could mean for homeowners.

Published in Radio

A home equity line of credit, or HELOC, allows a homeowner to tap into their home’s equity at a low interest rate. HELOC’s are great for major expenses such as education, home improvements or unexpected medical bills. However, because HELOC’s carry a variable mortgage interest rate, when interest rates rise, so will payments.

When the federal reserve announces a .25% rate increase in December, HELOC’s will instantly be impacted. Each quarter thereafter, rates can continue to increase by .25%, so by this time next year, HELOC rates may be a full percentage higher than they are today.

Many homeowners with home equity lines of credit may have been making low interest only payments and neglecting to pay on the principle. This is a problem. With the potential continued increase in rates, homeowners with HELOC’s could realistically see their payments double or triple over the next few years.

While rates are still low, now would be an opportune time for homeowners to consider refinancing both their first and second mortgages into a low fixed rate mortgage. And if you’re a veteran, the good news is you can refinance up to 100% of the value of the home to accommodate this, and the FHA will allow up to 97% loan to value.

If you have a home equity line of credit, Indigo Mortgage encourages you to call today and see if a refinance can save you money!

Published in Blog
Tuesday, 22 November 2016 15:48

KKOB on November 22

Ben Lucero of Indigo Mortgages discusses the recent rise in interest rates and what this means for homebuyers. You may be surprised by how many great financing opportunities are still out there!

Published in Radio

Here at Indigo Mortgage, we’ve been talking a lot the last several years about how interest rates have been at historic lows, but following the election, we’ve slight increase in rates and some borrowers are concerned.

True, interest rates have risen almost a full percentage point above where they were prior to the election, but let’s put things into perspective. Interest rates are exactly where they were this time last year. Even though interest rates aren’t as low as they’ve been in the past few months, they are still exceptionally low.

In spite of the slight rise in interest rates, there are great opportunities for purchasing a new home or for refinancing. Refinancing to a shorter term mortgage, cashing in a refinance to use for home improvements, or consolidating high interest credit cards or home equity lines of credit are still great options. It’s still a good time to streamline refinances for VA and FHA loans, as rates are well below 4%.

Borrowers, do not walk away from a refinance or home purchase just because interest rates are a little higher. As always, Indigo Mortgage encourages borrowers to shop around and compare mortgage options. You will find that rates vary widely from lender to lender and you will be surprised by how much you can save! Don’t forget to talk to a trusted local mortgage company like Indigo Mortgage when you’re comparing interest rates for your home mortgage or refinance!

Published in Blog
Tuesday, 04 October 2016 22:07

KKOB on October 4

At Indigo Mortgage, we advise veterans to shop loans, because education is key to ensuring you get an honest offer. Our staff has seen many cases where out-of-state lenders attempt to take advantage with high rates and outrageous lender fees.

We are always happy to help veterans compare loan offers, and often, we are able to find them a better deal.

Published in Radio
Tuesday, 27 September 2016 22:09

KKOB on September 27

Interest rates are near historical lows. It's a great time for veterans to consider the benefits of Indigo Mortgage's VA loan and refinancing options.

Published in Radio
Wednesday, 29 June 2016 14:42

KKOB on June 28

With mortgage rates at the lowest they've been in 3 years, many people are jumping into the mortgage market.

Lenders, title companies and realtors are becoming overwhelmed with the amplitude of loan applications.

With the market booming, customer service is suffering. Indigo Mortgage has hired 4 new employees in the last year alone to keep up with demand. When applying for a loan, keep in mind the volume of applications coming in to lenders. When applying for a loan, try to return documents needed in a timely fashion and all together.

Be sure to stay local with Indigo Mortgage and rest assured that your lender is on your side.

Published in Radio
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