In today’s mortgage market, borrowers see ads about how rocket-fast it is to apply for a mortgage. They’re lulled into thinking a mortgage is as quick as pushing a few buttons on a computer or smartphone, or talking to a person many miles away on the telephone. In either of these scenarios, the online mortgage
In the last couple of weeks, we’ve received several calls from borrowers who heard Indigo Mortgage on the radio and wanted a second opinion. They all had a mortgage application in with that national lender who’s name rhymes with “pocket”. These borrowers all said they were just not comfortable with the rate and the fees
Frequently, we hear potential borrowers who say they are shopping their mortgage around and would like a second offer. That’s great, that’s what we’ve advised since Indigo Mortgage opened in 2003. Most commonly, when they tell us they’d like to see our interest rate and fees on their home loan, the other lender is a
Here’s some great news for New Mexico homebuyers! Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), the private corporations chartered by Congress to provide stability and affordability to the mortgage market, have raised the maximum loan limit from $548,000 to $625,000. This increase means that a borrower can
If you’re about to purchase a new home or refinance your mortgage loan, you are bombarded daily with ads for mortgage loans. They’re especially aggressive from the national lender whose name rhymes with “Pocket” and the big internet lenders who say they can manage your home’s purchase and mortgage. But do big internet lenders really
It’s early October in New Mexico, and we’re seeing more than hot air balloons rising. We are seeing mortgage rates rise from the historical low rates of the last year. Unfortunately, we are also seeing many online lenders still offering those low rates from several weeks ago. These mortgage lenders are not being truthful in
It’s now mid-August 2021 and we’ve seen two recent changes in mortgage loans. Recently Fannie Mae and Freddie Mac did away with their added fee for refinances. The fee was issued on all loans during the early months in 2021 but they just dropped it. What this means for borrowers is that rates are even
Every day, we get borrowers who are shopping their mortgage around and who say, “I don’t want my credit report pulled again.” They are worried that too many credit report pulls will drop their credit score. However the rules for credit reporting agencies state that if the same kind of entity (such as several mortgage
As we are seeing home mortgages and refinances at all-time highs, don’t be too quick to accept an offer from a national mortgage lender, without reading the small print. Most recently National lenders are attempting new tactics to entice homeowners with low rates and nearly impossible requirements to qualify. Not long ago a borrower came
Always ask your mortgage lender about origination and discount points to make comparing mortgage offers easier. Mortgage rates are still at historic lows, but all lenders are not equal in how they offer those low rates. It’s important to not only get the best or lowest interest rate available but more importantly to know what