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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
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

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
Monday, 10 April 2017 22:54

KKOB April 11

Today on KKOB, Ben Lucero discusses how shopping your mortgage around can potentially save you thousands of dollars on a veteran or FHA loan.

Published in Radio
Monday, 10 April 2017 22:46

Lender Credits Shop

At Indigo Mortgage, we always encourage borrowers to compare mortgage loans, shop around, and negotiate. No matter how far along in the process you are, it’s never too late. Even if you’ve prequalified with another lender, Indigo Mortgage can likely still help you save money on your mortgage loan.

One way that we can help veterans and FHA borrowers save money, is by providing lender credits. Lender credits are granted by Indigo Mortgage to help borrowers cover their closing costs. Lender credits can be especially beneficial for borrowers that do not have sufficient funds available for initial closing costs. If the lender you are working with does not offer lender credits, contact us, we can often find a way to provide them and assist you with your closing costs.

Many times, borrowers will come to Indigo Mortgage after prequalifying elsewhere. We are typically able to lower their rate by .5%, or match another lender’s rate and offer lender credits. We encourage all borrowers to shop around, and come to us for help with comparing mortgage options. Indigo Mortgage could help you save thousands of dollars!

Published in Blog
Tuesday, 07 February 2017 21:21

KKOB on February 7

Buying a new home has advantages, but Ben Lucero discusses why you may want to be cautious about buying directly from a home builder.

Published in Radio

Buying a new home has its advantages. You get to choose your amenities, select the location and neighborhood, perhaps even customize your floorplan. With a brand-new home, you don’t inherit someone else’s appliances or personal customizations. It’s fresh and clean, and completely yours. For these reasons, some homebuyers consider buying directly from a home builder. Often builders will waive closing fees to entice buyers to work directly with them, however, Indigo Mortgage urges homebuyers to be cautious about this option.

The first thing to consider when buying directly from a builder is that without a realtor on your side, you are completely at the mercy of the builder. It would be similar to walking into a courtroom without a lawyer. Working with a realtor, or buyer’s agent, is of benefit because they know the laws, they know the ins-and-outs of contracts, and they can help you navigate the process. A buyer’s realtor is paid for by the builder, so why not use one?

Another consideration when working with a builder, is that they will typically make it very difficult for a buyer to use a lender other than their in-house lender. In an effort to appeal to buyers, many builders will not require them to pay closing costs, however, this doesn’t necessarily save you money. If you qualify for a VA or FHA loan, you may be eligible for lender credits, which would cover your closing costs. Working with an outside lender will often get you lower interest rates as well.

A builder’s representative will most likely never offer a first-time home buying seminar for their clients or work hard to find the best rates and terms. Indigo Mortgage however, wants to equip all potential homebuyers with the knowledge needed to navigate the home buying process. That’s why we recommend working with a buyer’s agent, and shopping around to find the best mortgage loans. We’re here to help every step of the way!

Published in Blog
Monday, 30 January 2017 23:37

KKOB on January 31

In today's segment on KKOB, Ben Lucero explains how lender paid mortgage insurance can help a borrower get a lower monthly payment.

Published in Radio
Tuesday, 24 January 2017 21:56

Pre-Qualify for a Loan Now

Now that it’s a new year, many interested homebuyers are starting to look at their financing options. At Indigo Mortgage, we believe that now is a great time to pre-qualify for a mortgage if you’re thinking of a Spring or Summer move. The prequalification process should tell borrowers their rate, how their total payment is derived, as well as provide them with a list of closing costs.

The prequalification process is fairly simple. You supply Indigo Mortgage with information about your finances, like your debt, income and assets. We evaluate this information, and we can tell you whether you qualify, what your expected interest rate will be, likely closing costs, and explain how your total monthly payment is derived.

There are four factors that go into a total monthly payment. It is determined by a combination of your principal and interest payments, homeowner’s insurance payment, property taxes, and mortgage insurance (if you are putting down less than 20%). We also explain the closing costs and whether or not lending credits will be involved.

At Indigo Mortgage, we believe education is important. We offer seminars to explain the mortgage process to first-time homebuyers and prior homeowners alike. We want every borrower to feel confident that they understand the homebuying transaction and feel equipped to make an offer.

Pre-qualification is only the beginning of the homebuying journey. At Indigo Mortgage, we recommend working with a local lender so you can expect to receive timely answers to any questions you may have along the way. We search daily for the best rates and terms for each borrower so we can get our customers the best deals available on the market.

Published in Blog
Tuesday, 24 January 2017 19:49

KKOB on January 24

It's a new year, and many interested in buying a home are starting to look at options. Ben Lucero of Indigo Mortgage discusses why now is a great time to pre-qualify for a mortgage loan.

Published in Radio
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From The Blog

  • 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 Read More
  • Prequalification vs. Preapproval +

    If you’re a first-time homebuyer or if it’s been a while since you’ve purchased a home, you likely have a Read More
  • Low VA Rate Mailers +

    Indigo Mortgage is proud to be the top broker in New Mexico for VA Loans. Because we work with so Read More
  • Reverse Mortgages: Keep it Local +

    As the population ages, the mortgage industry is seeing a large increase in reverse mortgages. Many companies advertise their reverse Read More
  • Local Reverse Mortgage Consultation +

    It seems like every time you turn on the TV, you’re bombarded with commercials for reverse mortgages. Famous actors are Read More
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