In today’s housing market, owning a second residence is not uncommon. Before purchasing a second home, it’s important to know the difference between a second home and an investment property. Although they may seem the same, they are not. A second home is exactly that, a second home. A second home is a residence where
As your local Albuquerque mortgage lender, Indigo Mortgage knows how important it is to communicate with all of the parties involved in your home buying process. You have a seller, a buyer, two realtors, and a title company, in addition to the lender. All of those parties need frequent contact with the lender to get
Midway through 2022, the rising interest rates mean that the mortgage market volume is a fraction of what it was a year ago. That’s causing some lenders to chase profits, trying to keep their income high. That means borrowers looking for a home loan should really compare offers from several mortgage companies. Because the mortgage
As we’ve mentioned during the last few weeks, the rise in the mortgage interest rates has caused a big drop in the number of mortgage loan applications. Some lenders are now chasing profits, trying to keep their net revenue the same while doing fewer deals. Many national lenders are chasing these profits by charging a
As homeowners know, their home values have gone up exponentially in the last few years, all across Albuquerque’s metro and the rest of the New Mexico too. Many homeowners are sitting on a lot of equity and they would like to tap into that equity for cash out for a many reasons, like home improvement,
Many borrowers who are having a home built, either with a New Mexico custom builder or even with one of the national builders, are waiting for their home to be completed before they can lock in a permanent interest rate. They are at the mercy of the mortgage rates of the future. And with the
The rising Mortgage interests rates we’re seeing in mid-2022 mean that its more important now than ever for Veterans to shop their mortgage around to get the best VA Mortgage. There are still some bad actors out there taking advantage of veterans and charging high interest rates and very high fees. As we’ve mentioned recently,
With today’s changing conditions in the mortgage market, we strongly believe that mortgage brokers are a borrower’s best choice to get the best interest rate and the best deal for their home purchase or refinance. Mortgage brokers are lenders who are working for the borrower, 100% of the time. We aren’t tied to one company’s
You’ve heard the old saying about a wolf in sheep’s clothing? That’s how we feel about predatory lending and the companies that don’t ethically take care of home buyer’s mortgage applications. We might sound like a broken record but we want to advise borrowers to be very wary of the big national lender predator, the
The inside scoop from Ben Lucero at Indigo Mortgage: I was listening to a radio ad the other day and the lender was saying that they offer a “no closing cost mortgage”, that the lender would pay all the closing costs for the borrower. This is actually a scam. I say that because I had