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Tuesday, 15 January 2019 21:21

KKOB - February, 5th, 2019

<>Ben Lucero discusses the importance of accountability when dealing with a mortgage lender
Published in Radio
Wednesday, 04 January 2017 00:02

Broker vs. Bank: What's the Difference?

At Indigo Mortgage, we understand that borrowers looking for a mortgage loan have plenty of options these days. But when it comes to choosing between a broker like us, or a bank, it’s important to know what the key differences are. Knowing the distinction between the two can mean thousands of dollars in savings!

Published in Blog
Thursday, 21 July 2016 17:26

KKOB on July 19

Interest rates are again approaching historical lows.

With these low rates, borrowers have come off the fence to begin looking at refinancing or a purchase loan. Indigo Mortgage has seen an influx of lender credits, which can save borrowers thousands of dollars, with both FHA and VA mortgages.

By shopping around your mortgage and going with a local lender, you can ensure that you are getting the best rates possible. Remember that not all lenders offer lender credits, and you should ask before beginning the process or come to Indigo Mortgage to see the number of options that we provide borrowers.

Published in Radio

Many prospective home buyers may have never gone through a mortgage application process. For homeowners hoping to refinance, it may have been some time since they’ve done so.

And because of the changes to the mortgage industry since the lending meltdown in 2009, borrowers might be uneasy about applying for a mortgage. In an age of electronics and computers, it’s becoming a virtual and impersonal world and this can also cause anxiety in the application process.

Most experts agree that when applying for a mortgage, it should be done with a professional who can walk borrowers through the process and answer questions. Many of the large on-line out of state and national lenders simply have application takers, not someone who is educated about the process, and willing to take the time to educate borrowers on their loan options and the loan process.

At Indigo Mortgage, we get phone calls from borrowers shopping their loan around and many times hear “You are the first company to explain the loan in such detail.”

With so many rules and regulations, it’s important to understand why the borrower is being asked for certain documents and letters of explanation. It’s one thing to be told that you must supply the information and quite another when you understand why those documents are being requested.

For example, large deposits in bank accounts must be verified and explained, because of laws against money laundering. Many time borrowers are asked to explain any past credit issues; the reason is to understand if borrowers have corrected these problems or if they are recurring.

A detailed account is usually requested for the last 2 years of the addresses where the borrowers have lived. The reason for that is to get a payment history and make sure all rent or mortgage payments were made on time.

In addition to these items that verify your information, a loan officer may find that the borrower qualifies for loan programs that might save some money. If so, it’s also important that the borrowers understand the benefits and the drawbacks of each. With all of these factors, using a local lender makes applying for a mortgage much easier for borrowers.

Published in Blog

As the old saying goes, “You don’t know what you don’t know.”When applying for a mortgage, some borrowers may not know the most important question to ask that could save them substantially on their mortgage. At Indigo Mortgage, we hope that understanding this question and its answer will provide borrowers with lower costs when shopping for a mortgage.

Published in Blog
Monday, 25 April 2016 15:57

Mortgage Rates at an All-Time Low

Mortgage rates are at an all-time low, which brings great opportunities for those interested in refinancing their homes...

Published in Blog
Monday, 11 April 2016 21:44

Mortgage Needs List 2016

Whether you are buying or refinancing a home, mortgage lenders always require paperwork to verify every aspect of your finances, for example, any debts, income, assets, etc...

Published in Blog
Thursday, 01 October 2015 00:00

The New TRID Rule Takes Effect October 3, 2015

There is a new rule being implemented into the real estate market on October 3, 2015 called the TRID rule. TRID is an acronym for TILA RESPA Integrated Disclosure and is also known as the Know Before your Owe rule.

Published in Blog
Tuesday, 21 July 2015 19:46

KKOB on July 21

Interest Only Loans

Published in Radio
Tuesday, 07 July 2015 00:00

KKOB on July 14

Know Before You Owe

Published in Radio
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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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