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Thursday, 18 April 2019 21:11

New Mortgage Rate Updates

Homeowners in Albuquerque who are looking to refinance have some good news as interest rates over the last few weeks have turned for the better!

Unfortunately, large national and internet lenders have been offering borrowers rates that may get them what seems to be a lower payment, but also include exorbitant fees. Indigo Mortgage has received several calls from clients stating that a national lender offered a great rate to refinance, but after the call, Indigo Mortgage was able to offer them the same interest rate but with $3000 less in fees.

Another lender was charging the borrower up to $6000 to buy down their interest rate. Again, Indigo Mortgage was able to offer the same rate, saving that client $6000.

Don’t jump at the first offer you receive for a mortgage. It’s important to get a second opinion. Call Indigo Mortgage today!

Published in Blog
Wednesday, 16 January 2019 21:53

KKOB - December, 25th, 2018

<>Ben Lucero speaks about the importance of getting a second opinion when shopping for a mortgage
Published in Radio
Wednesday, 16 January 2019 20:25

KKOB - December, 11th, 2018

<>Ben Lucero discuss new Loan Limits coming this January.
Published in Radio
Tuesday, 15 January 2019 21:09

KKOB - January 29th, 2019

Ben Lucero why it's so important to understand lender fees when shopping for a mortgage '
Published in Radio
Tuesday, 15 January 2019 20:58

KKOB - January 15th, 2019

<>Ben Lucero discusses the many recent changes, and those coming in the near future, for the mortgage industry.
Published in Radio

Our company president, Ben Lucero, loves to share stories when our customers shop for a mortgage.

Last week, a realtor called Indigo Mortgage and said one of her clients was quoted an interest rate of 5.75% on a Federal Housing Administration purchase loan. She thought that was way too high and we suggested her client give us a call. Indigo Mortgage was not only able to give this borrower a rate that was below five percent but also saved her $1,350 in lender fees.

We also had a veteran with perfect credit call Indigo mortgage who was working with a national online mortgage lender and was getting a rate of 5.25%. Indigo Mortgage was able to get this veteran a rate in the mid four percent range and cut his fees by about $1800!

We’ve also had three different borrowers reach out to Indigo Mortgage regarding Reverse mortgages. They said that the lenders they were speaking to were pushy and would not answer their questions. We consulted with them and answered their concerns and we were able to save them a few thousand dollars in closing costs! For any questions about your mortgage in Albuquerque or New Mexico please shop around for a mortgage and don’t assume the lender you are working with is offering you the best deal available.

Published in Blog
Tuesday, 09 October 2018 15:55

Lock Your Interest Rate

Albuquerque’s Mortgage Rates are on the rise and this worries borrowers who are shopping for a home. Indigo Mortgage has a new loan product called Lock and Shop. Lock and Shop allows borrowers to purchase a home with the opportunity to lock in today’s mortgage rates before they even find a home. In the past, borrowers had to have the home under contract before locking in a mortgage rate. But because we are in a rising rate environment, this loan allows the borrower to lock in a rate for up to ninety days. The rate is preserved for this term and the mortgage loan must close within that rate’s lock period. If for some reason the rate drops in that lock period, we will float down the rate for the borrower.

At Indigo Mortgage we caution home buyers from using lenders who are out of state. Most than likely, their rates will be higher than what we can offer. However, if the interest rate is the same, it’s much more convenient for a borrower to stay local. With an out of state lender, it can (and will be) frustrating trying to coordinate a loan with voice mail and people who are not familiar with or invested in the transaction. Why not stay local if we can offer the same or better rates to Albuquerque and New Mexico home buyers?

Published in Blog
Tuesday, 24 July 2018 21:11

Lock and Shop

Ensuring a low interest rate is crucial when purchasing a home. Indigo Mortgage is now offering a new purchase loan option to our borrowers. If you are thinking about buying a home, learn more about our Lock & Shop option, only at Indigo Mortgage. We are here to make the purchasing process easy!

What exactly is Lock & Shop? Lock and Shop gives borrowers the option to lock in their interest rate while they are still shopping for a home. With mortgage rates on the rise, we give our borrowers peace of mind with rate security. The process is easy and provides the borrower with a secured rate for 90 days. First, we lock the loan on a to be determined property. Once this has been completed, we submit the loan, and get a full approval. After the approval has been received, we simply wait for the borrower to find a property. Once the property has been established, we put in the new address and order the appraisal.

No matter your situation, this loan option allows for a quick and timely close. Call or visit us today for more information. Don’t wait to get your low interest rate locked in!

Published in Blog

The possibility of an interest rate hike that affects mortgages is on everyone’s mind. The Federal Reserve may make the announcement this month and many are concerned about what this will mean for interest rates in the short-term. Indigo Mortgage would like to reassure you that even if mortgage rates rise, there are steps you can take now to protect yourself and ensure that your mortgage payments stay as low as possible.

First of all, the forces that determine mortgage interest rates have already taken the possible rate hike into consideration, and we’ve been seeing rates tick up for the past couple of months. If mortgage rates rise, they will rise gradually throughout 2017, but should remain within 1% of where they are now.

The interest rates that will be immediately affected are variable rates, such as Home Equity Lines of Credit (HELOC) and credit card interest rates. If the .25% rate increase is put into effect, then you will see HELOCs and credit card interest rates rise by .25% each quarter in 2017. By this time next year, you can expect those rates to be at least 1% higher than they are now. It’s possible that the rate of change may increase so that variable rate changes could become substantial.

It’s possible that interest rates may rise, so Indigo Mortgage invites you to take action now to keep your payments as low as possible. Consider getting a low fixed rate on your HELOC or refinance your current mortgage to take out some equity and pay off high balance credit cards. Indigo Mortgage is always here to help and answer any mortgage questions you may have!

Published in Blog

Here at Indigo Mortgage, we’ve been talking a lot the last several years about how interest rates have been at historic lows, but following the election, we’ve slight increase in rates and some borrowers are concerned.

True, interest rates have risen almost a full percentage point above where they were prior to the election, but let’s put things into perspective. Interest rates are exactly where they were this time last year. Even though interest rates aren’t as low as they’ve been in the past few months, they are still exceptionally low.

In spite of the slight rise in interest rates, there are great opportunities for purchasing a new home or for refinancing. Refinancing to a shorter term mortgage, cashing in a refinance to use for home improvements, or consolidating high interest credit cards or home equity lines of credit are still great options. It’s still a good time to streamline refinances for VA and FHA loans, as rates are well below 4%.

Borrowers, do not walk away from a refinance or home purchase just because interest rates are a little higher. As always, Indigo Mortgage encourages borrowers to shop around and compare mortgage options. You will find that rates vary widely from lender to lender and you will be surprised by how much you can save! Don’t forget to talk to a trusted local mortgage company like Indigo Mortgage when you’re comparing interest rates for your home mortgage or refinance!

Published in Blog
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