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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
Tuesday, 20 December 2016 19:18

The VA Path to Homeownership

The VA Loan offers unmatched benefits to veterans or those just finishing their service. Many of these veterans do not realize that they can qualify for a new home or know how to go about it. Indigo Mortgage is honored to say that we have helped numerous veterans accomplish their dream of owning a home.

Indigo Mortgage meets face-to-face with veterans to conduct one-on-one seminars and answer any homebuying questions they might have. We determine if the veteran can qualify, then we work with them to go through the loan process, educating them along the way.

VA Loans do not always require a down payment or monthly mortgage insurance. Veterans can also enjoy low interest rates. In addition to these benefits, Indigo Mortgage is one of the few mortgage companies that can offer lender credits. We can use these lender credits to reduce closing costs for the veteran.

Indigo Mortgage encourages veterans to carefully weigh all of the options before making a purchase. We are always available to help veterans research their loan opportunities and help them make an informed choice. We take our responsibility seriously, and believe that those who serve our country deserve the best service.

Published in Blog
Monday, 19 December 2016 23:23

KKOB on December 20

If you're a veteran, you can qualify for a VA Loan, a loan option that affords borrowers some unique benefits. Hear what Ben Lucero of Indigo Mortgage has to say about how you can get the most out of your VA Loan.

Published in Radio
Monday, 12 December 2016 23:51

KKOB on December 13

At Indigo Mortgage, we've had veterans ask us about the legitimacy of unbelievably low rates they've seen advertised. Ben Lucero weighs in on what to be on the look out for when shopping for a VA Loan.

Published in Radio

Recently, at Indigo Mortgage, we’ve had veterans contact us and inquire about emails and post cards they have received advertising VA loans with interest rates below 3%. Are these legitimate? The short answer is no. Here’s why.

Any rate below 3% on a VA mortgage is most likely an adjustable rate mortgage (ARM). Deceptive lenders fail to disclose however, that these unbelievably low rates are for 3/1 or 5/1 ARM’s, meaning that the loan begins with a fixed rate for 3 or 5 years in this example. Following the introductory period, however, the interest rate adjusts once a year every year thereafter. We encourage veterans to ask as many questions as possible in order to make sure that you don’t get stuck with an adjustable rate mortgage if that’s not what you’re looking for. In many instances, veterans end up paying thousands of dollars in discount points to buy their interest rate down below 3%.

We often find that these VA lenders are deceitful and do not care about their borrowers, they just want to make money by exploiting veterans. The Consumer Financial Protection Bureau has recently fined several of these companies for presenting themselves as VA endorsed lenders, when in fact the VA has never sanctioned them.

Veterans would be better served by working with a trusted local mortgage lender like Indigo Mortgage. We are always happy to educate borrowers and help them assess their options. It’s important to ask your lender if the rates they’re advertising are fixed or adjustable, and ask what the origination and discounts point charges are for any rate.

As always, shop around for the best loan, and contact Indigo Mortgage for help!

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, 08 November 2016 19:44

KKOB on November 8

It's important to shop around and know your options when you're looking to refinance or obtain a loan. Often, you can get lower rates than you expect, especially now that rates are at historic lows. If one lender turns you down, don't give up! Ben Lucero discusses the many options that working with a broker like Indigo Mortgage affords homebuyers and those looking to refinance.
Published in Radio
Tuesday, 08 November 2016 18:22

Know Your Mortgage Options!

At Indigo Mortgage, we believe that it’s imperative to shop around before purchasing a loan or refinancing. Homeowners don’t always realize how many options are available, and often they accept higher rates than they deserve. In some cases, homeowners are turned down for a loan or a refinance, and they give up, without realizing that another lender would be happy to accommodate them. Whether you’re looking for a loan, or looking to refinance, educate yourself. Know what’s going on in the market to ensure you get a fair interest rate. You have options!

Interest rates are still near historic lows, which means if you currently have an FHA or VA loan, now is a great time to consider your interest rate. If your interest rate is 4.25% or higher, it’s time to look at a streamlined refinance, FHA and VA loans should be in the low 3% range. If you are already refinancing or have purchased a loan and your rate is higher than 3.5%, see if your lender will renegotiate. Never accept a loan offer at a higher rate than what’s available out there.

But what if you’ve been turned down for a loan? At Indigo Mortgage, we’ve received inquiries from individuals who have been turned down, and we’ve always been able to help them. As a broker, we work with many different lenders. Each of the lenders we work with has a different set of guidelines, so chances are, if one lender won’t approve a loan, another lender will. Don’t give up on your loan, get a second opinion.

At Indigo Mortgage, we pride ourselves on being transparent and honest. We are always happy to answer any questions you may have about your mortgage, and we always work hard to get the best rates for our clients. Call Indigo Mortgage to find out what your options are!

Published in Blog
Tuesday, 25 October 2016 22:33

Be Aware of Dishonest VA Loan Tactics

Recently, we’ve been getting phone calls from veterans asking us to match low rates they’ve seen advertised. Upon further investigation, we often find that these rates are not what they seem.

For example, clients may be offered a 30-year mortgage with a low rate like 2.5% or 2.75%, but the fine print reveals that it’s not a fixed rate. The rate will be fixed for an introductory period of 3-5 years, but will then be adjusted every year thereafter. This is usually not what the client wants, as they may face large increases in their monthly payments after the initial period.

We also see cases where a customer is offered a 30-year fixed mortgage rate below 3%. However, when you read the fine print, the lender is charging a full 2% in discount and origination fees that may amount to thousands of dollars, not even including closing costs that must be paid upfront.

Both tactics are very misleading. Lenders make a lot of money on VA loans by hiding fees or pricing the loan higher than what the veteran deserves. As a rule, veterans can expect to get rates in the low 3% range - without any origination, discount or lender fees.

At Indigo Mortgage, we encourage veterans to keep their mortgage local. We are always happy to work with you and go through the fine print to determine if an offer is in your best interest. We have helped many veterans save thousands in closing costs and get low rates with no strings attached. Call Indigo Mortgage for an upfront quote on a VA loan.

Published in Blog
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From The Blog

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  • Lender Paid Mortgage Insurance Can Save You Money +

    You might be able to save money on your monthly mortgage payment with lender paid mortgage insurance. How? If monthly Read More
  • VA Jumbo Loans +

    Indigo Mortgage is one of the largest mortgage brokers in New Mexico, and as such, we close more VA Loans Read More
  • 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 Read More
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