As veterans already know, VA mortgage interest rates are the lowest in history. Veterans know this because they are bombarded by internet ads, direct mail, and their own current mortgage company calling them daily about refinancing. Here are some simple guidelines. A veteran is eligible for a “streamline” interest rate reduction refinance loan (IRRRL), if
If you’re purchasing a home or property in New Mexico, or your are refinancing your current home loan, you already know that interest rates are the lowest in history. This is a great time for homeowners and new home buyers to lock in these low mortgage rates, and save thousands of dollars in interest over
There are several steps in the actual mortgage process, as a home loan moves from application to funding. At Indigo Mortgage, we have developed a system to streamline that process and keep your mortgage moving quickly. To do that, we have created three departments: origination, set up, and processing. Indigo Mortgage is a mortgage broker,
As consumers know, mortgage interest rates continue to be at the lowest levels in history. This has given many New Mexico home owners and potential home owners the incentive to take advantage of these low rates. Because there are so many loan applications in the pipeline, all lenders are experiencing a major back log. Borrowers
At Indigo Mortgage, we often get calls from New Mexico home owners who are considering a refinance but they wanted to get some advice on whether it’s the right thing to do. We don’t take those requests lightly as these are real people trying to make serious decisions for themselves and their families. Here are
With so many New Mexico veterans taking advantage of the Veterans Administration loans to purchase homes, there is some mis-information about what exactly the “zero down” VA loan means. The VA purchase loan indeed offers the veteran a zero down payment, meaning the VA will allow financing of 100% of the property’s purchase price. But
Indigo Mortgage’s owner, Ben Lucero, shares some recent success stories for VA home loans in New Mexico! “Recently, I had a veteran call me and say he got an offer from his local credit union on a VA streamline loan, but he was really disappointed in the rate they offered and the amount of closing
When you’re ready to refinance your mortgage, you could go to your bank or credit union, use an online lender, or a mortgage broker. What are the benefits of a mortgage broker? The first thing to remember about a mortgage broker is that a broker is 100% of the time working on behalf of the
With so many home owners refinancing because of historic low interest rates, we are seeing more issues with second mortgage liens. Second mortgage liens can come in a variety of forms, such as home improvement loans, solar system loans, lines of credit, and tax liens. All of these will have an effect on a mortgage
Recently the feds have announced they are raising the new maximum loan amounts for conventional loans, starting January 1st 2021. This means loan amounts can go higher without being considered a jumbo loan, which carry higher interest rates. The current loan limit for conventional loans is $510,000; in 2021, that new loan amount will go