During the summer of 2021, we continue to see an extremely competitive real estate market as homes sell very quickly, and at the same time, mortgage rates are at historic lows. That means that many people may be making offers on the same home. An excellent way to set your offer apart is to accompany
If you’re shopping for a mortgage or a refi, you probably know that the “quick” sounding lender and the one whose name rhymes with “pocket” are one and the same, a large national mortgage company. We want to warn borrowers to not be so quick in making a decision, as both of these lenders have
In today’s mortgage market, whenever one lender pulls a credit report on a borrower, the credit bureaus (Experion, Equifax and Transunion) then sell that borrower’s information to unscrupulous internet lenders who then try to solicit borrowers already in a mortgage application with another lender. At Indigo Mortgage, we call these internet lenders “bottom feeders”. Here’s
A change has happened for mortgages on investment properties and second homes. Fannie Mae and Freddie Mac, companies chartered by Congress to purchase mortgages from financial institutions and repackage them for investors, just made it more difficult and expensive for lenders to offer mortgages on these types of properties. In a nutshell, Fannie and Freddie
In another blog, we talked about mortgage servicers and touched on what they do. Today, we will look at the law that governs servicers and that law is called RESPA. RESPA, short for Real Estate Settlement Procedures Act, is a federal consumer protection law. It makes sure that servicers cannot change or modify the terms
It’s not often that mortgage companies ever talk about what happens after your mortgage loan closes or gives borrowers information on what to expect after they sign the home loan. Most mortgages today are not serviced by the company that funds the mortgage. Mortgages are sold on the secondary market to investors. The investors pay
The Veterans Administration announced in April 2021 an expanded home loan eligibility for National Guard service. This broadens the eligibility for certain members serving in the National Guard. Learn about the qualifications here. This means that certain Guard members will now have access to the Veterans home loan program that allows 100% financing, zero down
Consider this question: if a local mortgage broker can offer what an internet lender can do and more, why not stay local? Because that’s exactly what a local mortgage broker like Indigo Mortgage can offer. We can most often provide the lowest interest rates with the lowest closing costs. We are always accessible to answer
Recently, we wrote that taking out a new mortgage is not like buying a pair of shoes. Yet some internet lenders, like the one that rhymes with “pocket”, treat people like they are a commodity. Often, we get borrowers who call and say they got hooked up with this “pocket” lender and it was quite
Some lenders today are treating the biggest financial transaction of people’s lives like it’s as easy as buying a pair of shoes on the internet. You’ve seen the advertisements – “just click this button and get a mortgage”. Mortgages are a big deal and they are very personal, so why do internet lenders assume borrowers