When borrowers are required to come up with a down payment and closing costs for their new home’s mortgage, the money can come from different sources. The first is when the borrowers have saved the money and have it already in a checking or savings account. The next way is borrowers can borrow against their
In today’s mortgage market, there are several options for down payments on a home purchase. Home prices are still quite high and mortgage rates are up there too, so finding any help to make your home purchase easier is what we’re all about at Indigo Mortgage. First-time home buyers can put as little as 1%
A jumbo loan refers to a loan that exceeds the amount of $726,000, which is the limit guaranteed by Fannie Mae and Freddie Mac, the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FMCC), respectively. Due to this, New Mexico borrowers seeking jumbo loans have limited options when it comes to
Recently our biggest wholesale lender, United Wholesale Mortgage (UWM), announced that they are allowing Indigo Mortgage to offer a 1% down payment for mortgages for first-time home buyers. This is a huge win if you’re looking to purchase your first home in Albuquerque, Rio Rancho, or across New Mexico! The program requires a 3% down
Institutional investors on Wall Street now own 40% of all rental properties in America. And builders are now building more multifamily and rental units than they are single family homes for families, to the tune of 60% rental units and 40% single family homes. Experts say that the single best way to gain family wealth
The construction division at Indigo Mortgage has grown over the last few years and we are able to offer a wide range of excellent loan programs. We have the one time close conventional loan with 5% down and the VA one time close loan with zero down. Both of these programs will include paying for
A reverse to purchase loan in the simplest terms is the money a borrower puts down on the purchase of a home is used to make the payments. That borrower then will not have mortgage payments. The amount required to put down is determined by the age of the youngest borrower. The younger a borrower
Finding the right mortgage lender is half the battle of purchasing a home. At Indigo Mortgage New Mexico, we take home purchases and home loans very seriously. Our experts are here to explain the difference between local and online mortgage lenders. Why not stay local if a local mortgage broker can offer what an online
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
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