It’s the beginning of a new decade, and with it comes many changes to home loans and mortgages. These changes are coming to many areas, but today, we will specifically focus on conventional and VA mortgages. Beginning January 1, 2020, big changes will take effect. Conventional loan limits will increase from $484,150 to $510,400. This
Purchasing a new home or business can be intimidating, to say the least. If not familiar with the loan process, one may have an endless list of questions. It is important to have someone you can rely on for your home loan or mortgage loan inquiries. We strive to be just that for people in
Choosing the right mortgage company when refinancing is imperative. Making a quick decision doesn’t always provide the best outcome. It’s important to have a clear understanding of what you are looking for when you set out to refinance your home. A great deal may not necessarily be all that it appears to be. In December
Interest rates are falling again, and many Albuquerque homeowners are now deciding on what they should do with the equity they’ve gained in their homes. Some homeowners are considering using that equity for home improvement projects, bill consolidation or for a college education. Whatever their needs may be, homeowners are looking to tap into that
When it comes to shopping for a mortgage, buyers have more options now than ever! This is great for buyers, because it means they have the opportunity to find the lowest rates and best terms, but it also means a lot of searching. To complicate matters even further, for every legitimate broker or lender, there
Last week we talked about a new national survey conducted by the Consumer Financial Protection Bureau that revealed 77% of borrowers likely overpaid their mortgage loan. This week we want to talk about more of that study’s findings – specifically, the type of borrowers that actually shop around before getting a mortgage loan. The CFPB study showed
At Indigo Mortgage, we believe knowledge is power. The more you know about the mortgage process and the state of the market, the more likely you are to find a great deal that works for your lifestyle. A recent study conducted by the Consumer Financial Protection Bureau delved into the shopping habits of homebuyers revealed
Preapproval is necessary for the home-buying process. In fact, it’s so necessary that realtors in Albuquerque are hesitant to show a home to a potential home-buyer unless the borrower has already been pre-approved for a mortgage. Similarly, the pre-approval is involved in a mortgage application. You will provide detailed information on your application about your
Indigo Mortgage has learned that seniors in Albuquerque either have an idea of what a reverse mortgage is and have some basic questions, or they have no idea what a reverse mortgage is and have many, many questions! Most seniors are skeptical about calling or engaging with a lender. Seniors don’t want to be harassed
Many mortgage lenders make offers for first-time home owner loan programs or first responder programs. However, they embellish what those mortgage loans really are. For example, one mortgage lender promotes that nurses, first responders or veterans can get loans with zero fees. The reality is, the lender charges a higher interest rate to compensate for