(505) 836-5700

Give Us A Call

(505) 836-5700

click to call

Wednesday, 16 January 2019 20:25

KKOB - December, 11th, 2018

<>Ben Lucero discuss new Loan Limits coming this January.
Published in Radio
Monday, 12 February 2018 20:48

2018 Loan Limit Increase

At the beginning of 2018, it was announced that the limit for conventional, FHA and VA loans would increase. Prior to this year, the highest VA loan amount a borrower could get was $423,100, but now the limit has increased to $453,100; for FHA the old limit was $275,655, but it has increased to $294,515. What does this mean? Ben Lucero of Indigo Mortgage is here to explain:

Now that the VA loan limit is $453,100, borrowers can borrow up to that amount before being required to take out a Jumbo loan. This is good news for any veteran shopping for a home, as traditional interest rates are much lower than for Jumbo loans. FHA borrowers can also enjoy lower interest rates if the amount they’re borrowing is at or below the new limit of $294,515.

At Indigo Mortgage, we have been helping our borrowers avoid jumbo loan rates by cutting the loan into a first and second mortgage. We do the first mortgage at the limit of $453,100 and take out a second mortgage for the remaining amount. Combining loans this way works out better for the borrower, as it helps them avoid a higher rate on a Jumbo loan. For more information on the new loan limits, how Jumbo loans work, or simply how to get the best rates and terms on your mortgage, contact Indigo Mortgage! We’re here to help!

Published in Blog

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
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34