Purchasing a new home is more involved than it may seem. If you watch television commercials that have people seemingly push a button to finance their home purchase, you should know that obtaining a home mortgage is not that simple. The commercials sound like it’s as easy as buying a pair of shoes online, but
When looking at the current housing market, it’s important to understand what you’re looking at, especially if you are interested in purchasing a home. For Veterans, these details may be a little different. The experts at Indigo Mortgage in Albuquerque are here to help you better understand the current New Mexico VA Rate Survey. Recently,
Home loans can be intimidating, especially for new borrowers. Indigo Mortgage New Mexico is here to explain a key concept to borrowers, churning. Here are a few aspects of churning and how to avoid it when purchasing a home. Lenders make their money from originating mortgage loans and then selling them off. The more loans
Purchasing a home can be complicated, especially in today’s market, but it doesn’t have to be. The Indigo Mortgage New Mexico team is here to tell you why you should shop locally for a mortgage lender when purchasing your next home. In the mortgage market, not all loan transactions are simple purchases or refinances. In
For twenty years, Indigo Mortgage has served New Mexico and the Albuquerque metro area. Now that we are coming into a new year, here is a brief history of Indigo Mortgage. Most people don’t know that Ben started Indigo Mortgage in his garage twenty years ago with his wife, brother, and a friend from church.
2023 is around the corner, which means the housing market is bound to change. Indigo Mortgage New Mexico has a few market updates for the new year. Fannie Mae and Freddie Mac recently announced that the max mortgage loan limit is increasing in 2023. The max mortgage loan limit is going from $647,200 to $715,000.
The housing market has been very competitive this year. Interest rates have increased exponentially, causing borrowers to think twice about proceeding with their mortgage applications. With that being said, many mortgage lenders are offering temporary rate buydowns. The team at Indigo Mortgage is here to explain rate buydowns and how they work. Buydowns have become
In today’s housing market, borrowers are taking advantage of many mortgage types, the most popular being second mortgages. The Indigo Mortgage team is here to explain why second mortgages are currently the most common type of mortgage loan. The housing market just came out of the lowest rates in our history. A majority of homeowners
At Indigo Mortgage in New Mexico, we like to keep our borrowers educated on various topics. One subject that does not come up in common conversation for homeowners is multifamily mortgages. Here are a few facts you should know about multifamily mortgages. Residential Multifamily properties are any residential property that is more than one unit.
When purchasing or even owning a home, it’s important to stay educated when it comes to home mortgage loans. Reverse mortgages, in particular, can be a great asset for senior borrowers, but they have gotten a bad rap recently. The Indigo Mortgage team is here to educate you and set the record straight about reverse