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Indigo Mortgage has learned that seniors in Albuquerque either have an idea of what a reverse mortgage is and have some basic questions, or they have no idea what a reverse mortgage is and have many, many questions!

Most seniors are skeptical about calling or engaging with a lender. Seniors don’t want to be harassed and they want someone they can trust. They just want a safe environment where they can ask questions and be educated on a reverse mortgage program.

Other lenders advertise the benefits of a reverse mortgage, but they don’t necessarily want to take the time to educate the borrowers in all the details. At Indigo Mortgage, we promise to never push reverse mortgages on our clients or sway our clients into taking out a reverse mortgage.

Indigo Mortgage promises to educate you on what a reverse mortgage is as well as what it isn’t. We invite you to ask as many questions as needed and we’ll go over the program as many times as you want until you completely understand the program.

Indigo Mortgage encourages seniors to bring family members to these meetings, so they can ask questions about reverse mortages as well.

We want our clients to be assured that we will never push them into an application nor try to influence their decisions. Give Indigo Mortgage in Albuquerque a call today!

Published in Blog

Preapproval is necessary for the home-buying process. In fact, it’s so necessary that realtors in Albuquerque are hesitant to show a home to a potential home-buyer unless the borrower has already been pre-approved for a mortgage.

Similarly, the pre-approval is involved in a mortgage application. You will provide detailed information on your application about your income, debts, and assets. The lender will do an evaluation and determine if you qualify to purchase a home. If you qualify, they’ll provide you with an estimate of price ranges for a home.

Unfortunately, buying a new home is not like purchasing a new pair of shoes on the internet. This is a good analogy when it comes to one of those big online companies that promise a new mortgage with a few easy clicks on their website.

There are many interested parties in a purchase transaction, and they all depend or revolve around the mortgage company. If you need a timely pre-qualified letter or assurance that the loan will close on time, an automated online lender will not accommodate all of those interested parties of a purchase transaction. You will need someone who will pick up the phone when realtors need information or when the borrower has questions. A local Albuquerque mortgage broker, such as Indigo Mortgage, will be just as fast and work to get you a better rate with lower fees. Indigo Mortgage is also always available to answer questions. If you’re looking for a pre-qualification, stay local in Albuquerque

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Published in Blog

Interest rates are falling again, and many Albuquerque homeowners are now deciding on what they should do with the equity they’ve gained in their homes. Some homeowners are considering using that equity for home improvement projects, bill consolidation or for a college education. Whatever their needs may be, homeowners are looking to tap into that equity. But, should the homeowners do a full-refinance, take out a second mortgage? Indigo Mortgage can help you with that tough decision!

The answer to this depends on your first mortgage and how much equity you intend to tap into. A full-refinancing could be a lower or higher interest rate. Depending on how much you are borrowing and what the new payment looks like, a full refinance may be worthwhile.

To calculate this, you will need to determine what the payment will be on a full-refinance using today's’ rates including the cost of cashing out and closing costs. From there, look at what the payment would be on a second mortgage while leaving the first mortgage in place. Then, add the second mortgage payment to the current first mortgage payment. Then, compare the second to determine which will fit your budget better. It’s just that easy!

If you choose a second mortgage, there are some things to consider. Clients need to make sure it’s a fixed-rate second mortgage and not a HELOC (Home Equity Line of Credit). HELOCs carry a variable rate.

If you’re shopping for a full-refinance, make sure to use a local Albuquerque Mortgage company, like Indigo Mortgage. Indigo Mortgage will give you an honest evaluation and assist you instead of trying to sell you a loan. Indigo Mortgage will provide you with accurate information and won’t try to sway you one way or the other.

Published in Blog
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
Tuesday, 23 February 2016 20:13

KKOB on February 23rd

Caution: Reverse Mortgages

Published in Radio
Tuesday, 16 February 2016 21:01

KKOB on February 16th

Problems with Online Lenders

Published in Radio

Mortgage interest rates have fallen dramatically over the last few weeks, and are now at those historical lows once again. They are particularly low with FHA and VA rates, in the low-three-percent range. If your current interest rate on those is four-and-a-quarter percent or higher, now is the time to look at streamline refinancing.

Published in Blog
Tuesday, 09 February 2016 19:44

KKOB on February 9th

Get a Second Opinion if Denied a Mortgage Loan

Published in Radio

From The Blog

  • Reverse Mortgage and What Seniors Should Expect +

    Indigo Mortgage has learned that seniors in Albuquerque either have an idea of what a reverse mortgage is and have Read More
  • The Pre-Qualification Process and Why It's Important to Stay Local +

    Preapproval is necessary for the home-buying process. In fact, it’s so necessary that realtors in Albuquerque are hesitant to show Read More
  • Full-Refinance or Taking Out a Second Mortgage Equity Loan? +

    Interest rates are falling again, and many Albuquerque homeowners are now deciding on what they should do with the equity Read More
  • New Mortgage Rate Updates +

    Homeowners in Albuquerque who are looking to refinance have some good news as interest rates over the last few weeks Read More
  • First Time Home Buyer Loans +

    Many mortgage lenders make offers for first-time home owner loan programs or first responder programs. However, they embellish what those Read More
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