When you’re ready to refinance your mortgage, you could go to your bank or credit union, use an online lender, or a mortgage broker. What are the benefits of a mortgage broker? The first thing to remember about a mortgage broker is that a broker is 100% of the time working on behalf of the
A new independent national survey was recently conducted, looking not only at VA interest rates but also comparing closing costs. The survey looked at the top 10 VA lenders nationally and compared them to smaller VA lenders. The results showed that the big national VA lenders, the big names you recognize, are clearly taking advantage
In the process of buying a home, whether you’re a first-time homebuyer or you’ve purchased several properties, there are many different parties involved in the financing process for a mortgage. There’s usually a seller, a buyer, two realtors, a Title company, and the Lender. Once the seller has accepted the buyer’s offer, those parties all
A VA refinance loan is known as a “VA Cash Out” in several refi scenarios: when the veteran is refinancing more than their property’s current payoff and getting cash back from their equity, when he or she is consolidating a first and second mortgage, or when they are paying off other liens or consolidating debt.
A VA Streamline IRRL loan, also known as a VA IRRL (for “interest rate reduction loan”) is a loan designed for a veteran to refinance his or her current VA loan into a loan to get a lower interest rate and lower monthly payment. The IRRL refinance must be a VA to VA refinance. It’s
Homeowners with a conventional mortgage who are working to refinance their loan to a lower interest rate have a new fee that will be added. At Indigo Mortgage, we’ve been advising that this fee was coming for the last few months and now it’s here. The fee is known as the Adverse Market Fee and
Many homes across New Mexico have installed solar panels on the roof or around the home to take advantage of our abundant sunshine. However, homeowners may not realize the impact solar panels will have when they want to sell the property or refinance their mortgage. If the solar equipment is still financed or is leased
Many homeowners are taking advantage of mortgage rates that are currently at all-time lows and refinancing their home loan to an even lower interest rate. That is bringing about a new fee that lenders will be adding when a conventional loan is refinanced, as of Oct. 1, 2020. Throughout 2019 and into the 1st quarter
At Indigo Mortgage, we get calls every day from New Mexico homebuyers or homeowners, asking “What’s your best interest rate?” We tell them it’s impossible to accurately answer that until we know some information from you first. When you’re ready to make an inquiry about a refi on your home loan, have your most recent
In 2020, even during a global pandemic, the real estate market is very competitive and with mortgage rates at historic lows, many people are making offers on homes. We are in a time when it’s a “seller’s market”, as the number of homes on the market is fairly small. One way to set your offer