As we are all witnessing, home values have increased exponentially in the last few years. If you’re currently not in the seller market, you’re likely sitting on a lot of equity. If you need to tap into that equity, you can do so in a couple of ways. You can either do a full refinance
With a constantly changing housing market comes significant changes to home mortgage loans. The Indigo Mortgage New Mexico team is here to tell you more about these changes and how they impact cash-out refinances. Fannie Mae and Freddie Mac are now making it harder and more expensive for borrowers to do a cash-out mortgage transaction.
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
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
Solar panels installed on or around homes have grown in the New Mexico region, which is positive. The negative part of solar panels is that most Albuquerque homeowners don’t realize that when they finance or lease these panels, it affects their home’s title and is considered a second mortgage. At Indigo Mortgage, we want to
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 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,
In today’s tight housing market, homeowners who are looking for a larger home or an updated home may find Rehab Mortgage Loans a better solution than selling their current home and purchasing a new home. A rehab loan lets you bundle your current mortgage with the home improvement cost rolled into one loan. Rehab mortgage
Over the last year and a half, appraisals to determine a property’s value have been a hot commodity. With the demand for housing and a hot real estate market in New Mexico, getting an appraisal order back has been nightmare for many borrowers. Appraisers are running at full steam but there are too few appraisers
Even the team at Indigo Mortgage in Albuquerque gets mortgage offers in the mail—and some of them are borderline unethical. Here’s a recent example: our company owner, Ben Lucero received a letter in the mail from a lender he’d never heard of. They offered a 1.75% interest rate and the direct mail piece said he