When purchasing a home, the mortgage loan limit and the interest rate helps determine what home you can afford. With the housing market at a steady increase, it’s important to fully understand what is available to you before purchasing a home. Here are a few updates to current loan limits that the Indigo Mortgage New
Purchasing a home is a huge financial commitment. When it comes to finding the right mortgage lender, it pays to shop around. Some buyers are unaware of what’s going on in the current housing market. The number of mortgage loan applications has significantly dropped for lenders in the past few weeks. This means lenders are
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
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
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
In today’s real estate market, there are more homebuyers than there are sellers, which makes it tough on buyers to separate themselves from all the other perspective buyers. Being prepared to make an offer on a home should start way before you even call a realtor. Our suggestion is to call Indigo Mortgage early in
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
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
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