Indigo Mortgage is pleased to announce our great new home loan program called Indigo Bright Start. Our Bright Start program offers a 1st and 2nd mortgage that allows the home buyer 100% financing with no money down and in some cases even helps with closing costs. The 1st mortgage is an FHA loan and the
Category: Residential Home Loans
There are unfortunate situations, such as a divorce, where a local mortgage company like Indigo Mortgage can be a true advocate. A local New Mexico lender like us will be much more attentive to your needs as a borrower when compared to any other national or out-of-state lender. There are many pieces to a puzzle
In New Mexico, it’s a common practice among family members to sell their homes to their loved ones instead of on the open market. This type of sale helps to maintain ownership of the family’s property and ensure that the home is passed down to future generations. This presents an excellent opportunity for both family
The Federal National Mortgage Association, or “Fannie Mae,” was established in 1938 to expand access to loans for families, including those in the New Mexican market. They “don’t originate mortgage loans or lend money directly to borrowers. Instead, [they] purchase mortgage loans made by lenders, who are then able to use those funds to offer
A reverse mortgage is a loan that’s usually secured by a residential property that enables the borrower to access the unencumbered value of the property. If you’re in the right situation, it’s an opportunity that can allow you to purchase a home without ever having to make a mortgage payment. To qualify, buyers must be
Our biggest wholesale lender, United Wholesale Mortgage (UWM), recently announced that they are allowing partners to offer a 1% down payment for first-time home buyers’ mortgages. We have seen many borrowers benefit from this mortgage program. The program does initially require a 3% down payment, but UWM will grant an additional 2%, meaning a borrower can now
Using a local mortgage lender is imperative if you are buying a home from a relative or inheriting a property. Someone local will take the necessary time to meet all parties involved and devise a proper plan. Many buyers in this situation need to be made aware that a relative, the seller, can gift the
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