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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 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, 21 February 2017 17:21

KKOB on February 21

On KKOB today, Ben Lucero give listeners a quick update on what's going on right now in the mortgage market and what that means for homebuyers in New Mexico.

Published in Radio
Tuesday, 21 February 2017 15:56

Mortgage Market Update

Indigo Mortgage strives to stay up to date with market developments, and often we’re asked about trends in the mortgage industry. Here are some of our predictions for the rest of 2017:

Last year, we saw some of the lowest interest rates in history. While we do not expect rates to drop as low as they did in 2016, we do expect that they will stay steady throughout the rest of the year. Interest rates are still well below 5%, in the low 4’s on 30 year fixed mortgages, and in the mid 3’s for 15 year fixed mortgages. At Indigo Mortgage, we believe that now is a great opportunity for shoppers to purchase or refinance. If you’re hanging on to a home equity line of credit, now would be an excellent time to refinance and combine two mortgages into a low fixed rate.

Housing experts predict that 2017 will be a good year for real estate. If you’re looking for a new home, you can expect a lot of competition. Indigo Mortgage recommends getting pre-qualified well in advance. Ask your lender for a pre-qualification letter so you can have that ready when you want to make an offer on a home. A local lender can make the mortgage process easier, so turn to one of them first, instead of an online lender. You will get better service from Indigo Mortgage.

If you have any questions regarding the mortgage process or what’s going on in the market at the moment, contact Indigo Mortgage! Our experts keep up with market trends so we can help our valued New Mexico clients!

Published in Blog
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
Wednesday, 13 January 2016 17:34

KKOB on January 12th

Understanding the Pre-Qualification Process

Published in Radio

Typically, the start of the new year is when people begin to look for a new home, so it’s a great time for Indigo Mortgage to talk to you about the mortgage pre-qualification process in detail so you know what to expect.

Most lenders today consider a pre-approval to be giving the borrower an answer as to whether or not they are qualified, what their rate will be, and a list of closing costs. That part of the pre-qualification is only half of what borrowers actually need. The pre-qualification should also cover just how the total payment is derived.

There are 4 factors that go into a total monthly payment: The principal and interest payment, the homeowner’s-insurance payment, property taxes, and if they are putting down less than 20 %, you will also have mortgage insurance. Additionally, the borrower would benefit if they understood the total closing costs involved in the loan, who pays what, and if there are lender credits involved.

Many of the first-time home buyers Indigo Mortgage talks to have been pre-qualified with other lenders, and did not know anything about their mortgage or closing costs; they just knew what their rate was and that they were pre-qualified. Indigo Mortgage always puts home buyers through a home-buyer’s seminar, whether they are a 1st-time buyer, or a prior homeowner who just needs a refresher. This way, the borrower can feel confident that they understand the whole purchase transaction and are equipped to put in an offer.

Because the pre-qualification is only the start of the purchase process, it’s important to use a local lender to be accountable to the borrower and realtor on a moment’s notice, and to provide timely answers. Once the loan is in underwriting, it’s important that the borrower talk to someone familiar with their loan every time they call, and they can simply drop off all paperwork at the local office. None of this is possible with an out-of-state lender or big bank.

If you have any questions regarding the home-buying process, or are ready to get started, contact us at Indigo Mortgage, your friendly, local lender.

Published in Blog
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  • 13 Billion Dollar Shopping Cost +

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  • Should You Consider a VA Jumbo Loan? +

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