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Tuesday, 27 February 2018 22:46

KKOB February 27

What's the the difference between a broker and a bank? Today on KKOB's real estate segment, Ben Lucero of Indigo Mortgage explains!

Published in Radio
Tuesday, 09 May 2017 21:52

KKOB on May 12

In this segment on KKOB, Ben Lucero disusses one of the major questions all shoppers should ask when looking for a mortgage loan, and why a low interest rate doesn't mean you're saving money!

Published in Radio

As one of New Mexico’s largest mortgage brokers, Indigo Mortgage can offer some advantages to homeowners and prospective homeowners. We believe that no one cares more about your mortgage loan. We work for the borrower, and not the bank. Our goal is to find you the best rate on the market, and save you money!

As a mortgage broker, we can represent our borrowers to a number of different mortgage lenders. This saves the consumer time, and money, because we can find the lowest rate on the market. Banks and other national lenders are limited to offering rates from their rate sheets. Often this is not the best rate for the consumer.

By law, as a mortgage broker, our compensation must be set as a percentage of the loan amount. Most of the time, this is covered by the lender and paid in the rate. If the chosen rate is more than our compensation, whatever is above our fee is credited to the borrower via lender credits. Banks and net branches however, pocket whatever exceeds their fees for profit. In contrast, we have seen many FHA and VA borrowers pay off all of their closing costs using the lender credits we provide, without having to pay a higher rate!

So how do you know if you are working with a bank, net branch, or a mortgage broker? Ask yourself, do the underwriters and loan originators work for the same company? If they do, that means they work for the bank, and not for you. A local broker like Indigo Mortgage however, works for you, the customer, not the bank. If you are searching for a new home or are looking to refinance, contact Indigo Mortgage.

Published in Blog
Monday, 13 February 2017 23:32

Not So Rocket Fast

Obtaining a mortgage is not like buying a pair of shoes from Amazon. We’ve all seen the commercials for a quick loan, promising that it only takes a few clicks to get approval. But it’s really not that simple. At Indigo Mortgage, we advise borrowers to be cautious of national lenders that advertise easy, quick, one-size-fits-all loans.

Mortgages can be extremely complicated with many variables. Every mortgage application is unique, and requires the full attention of a licensed and trained mortgage broker. There is no way an automated loan service can answer all of your questions for you. Indigo Mortgage strongly encourages working with a local lender that can provide in-depth, face-to-face answers to your unique questions.

Working with a local mortgage lender means that your broker understands your personal circumstances and provides you with personalized help. National lenders that promise fast loans neglect the personal element of conducting business in person. We believe lenders should treat clients like people, not just digits on an internet application.

While national online lenders promise convenience and expediency, we still advise working with a local broker, and shopping around to make sure you’re getting the best rates and terms on your mortgage!

Published in Blog
Tuesday, 03 January 2017 23:56

KKOB on January 3

Ben Lucero discusses the differences between a bank and a broker on KKOB's Real Estate segment today. Learn about why this difference matters and how it effects your loan!

Published in Radio
Tuesday, 01 November 2016 16:13

The Advantages of Choosing a Local Broker

Indigo Mortgage is proud to be a locally owned and operated New Mexico broker. We believe that having a local presence provides many advantages and benefits to our customers.

Lower Rates: National lenders often hike up their rates or hide the terms of the loan in the fine print. Because we work with so many lenders, they compete for borrowers by offering lower rates and lower fees. This means that we can get the best terms and rates on the market.

More Options: Large banks and online lenders typically work with one set of strict guidelines, and if a loan does not fit that guideline, it is denied. However, as a broker, we have access to many wholesale lenders, if one lender will not do a specific loan, chances are another one will. This affords our borrowers many options.

Dedicated Customer Service: Borrowers who work with a large bank or an out-of-state national or online lender often find that after their application is taken, communication is impersonal and delayed. When the borrower needs to speak with the lender, communication is delegated to someone unfamiliar with the loan and the borrower’s circumstances. Since we’re local, we always take the application, and process it right here in New Mexico. And when you have questions, you’re treated like a person, not a transaction.

As a locally owned and operated broker, we can offer our borrowers better options than national lenders. And since we’re located right here in the land of enchantment, you never have to worry about being ignored or put on hold when you call us with questions. Your personal loan originator or processor is always here to talk to you when you have questions. So when you’re shopping for a loan, choose a local broker like Indigo Mortgage!

Published in Blog

Applying for a mortgage is a huge step in a person’s life. Many prospective homebuyers have never filled out a mortgage loan application before or have not done so for quite some time. After the changes to the mortgage industry in 2009, potential borrowers might feel uneasy about applying for a mortgage loan.

Published in Blog
Tuesday, 15 April 2014 20:37

KKOB on April 15

Should you trust other lenders' advice?

Published in Radio
Friday, 11 April 2014 20:23

KKOB on April 11

The Veteran's Mortgage Cash-Out Program is Coming Back!

Published in Radio
Tuesday, 08 April 2014 19:46

KKOB on April 8

Your Market Update on Interest Rates

Published in Radio
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From The Blog

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  • 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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