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Tuesday, 15 January 2019 21:02

KKOB - January 22nd, 2019

<>Ben Lucero discusses local and national mortgage companies who are offering veteran mortgages with exorbitant rates and fees
Published in Radio
Friday, 31 August 2018 20:35

VA Path to Home Ownership

The VA home loan offers some great benefits for the veterans still in the military who have their certificate of eligibility or those just coming out of service, either from deployment or once they completed their active duty.

Many of these veterans have no idea that they can qualify for a new home or even how to go about it. Indigo Mortgage is honored to say that we have helped numerous veterans live the dream of home ownership.

We meet the veterans face to face and conduct a one on one homebuyer’s seminar. We will determine if the veteran can qualify and then walk them through the loan process and educate them on home ownership. Indigo Mortgage loves showing veterans the true benefits of the VA loan-- things like zero down payment, no mortgage insurance requirement, and low interest rates.

We may also be able to offer lender credits. Indigo Mortgage is one of the few mortgage companies that can offer lender credits in which the lender helps pay down the veteran’s closing costs. That may provide thousands of dollars to veterans to cover closing costs, all at equal or better rates being offered by other lenders. Recently, we lowered a veteran’s rate by .25% and still gave him lender credits of several thousand dollars for closing costs.

We encourage veterans to just simply give us a call and let us help in determining their path to home ownership. Indigo Mortgage takes this responsibility seriously and we advise veterans not to try this process with national or out of state lenders as our veterans deserve personal service.

Published in Blog
Tuesday, 28 August 2018 20:16

Jumbo Loans for VA Borrowers

A Veteran’s Administration or VA jumbo loan is used when a veteran needs a mortgage above $453,150, the current limit for conventional mortgages.

For veterans looking to purchase a home, the best reason to consider a VA jumbo loan is that the interest rate today is in the mid 4% range on a 30 year fixed rate; they would be hard pressed to find any other Jumbo priced so low.

The VA jumbo works best for the veteran who has 10% or more in VA disability as the funding fee is waived; that funding fee can some times be somewhat pricy depending whether the veteran has used their benefit before.

We have been able to help veterans with VA jumbo loans who wish to purchase or need a refinance to consolidate a 1st and 2nd mortgage, refinance out of a short term jumbo ARM (adjustable rate mortgage), or to do major home improvements.

The terms are all the same but there will be a huge difference in rates, and historically, Indigo Mortgage has lenders that offer the lowest rates available on the market for VA jumbo loans as well as other mortgage loans.

The best thing for a veteran to do if considering a VA jumbo loan is to simple call us and ask some questions, we will be happy to help any way we can. It’s another reason why it’s important to shop the mortgage around and to work with a local mortgage company.

Published in Blog
Monday, 03 July 2017 18:37

Should You Consider a VA Jumbo Loan?

VA Jumbo Loans are a great loan option for veterans, but at Indigo Mortgage, we’ve noticed that this option is often overlooked. Here’s a quick look at what a jumbo loan is, and some reasons you may want to consider one if you’re looking for a mortgage loan.

Published in Blog
Tuesday, 25 April 2017 22:26

KKOB on April 25

Indigo Mortgage is New Mexico's #1 VA Loan mortgage broker. Ben Lucero discusses some of the basic information that every veteran should know about VA Loans.

Published in Radio
Monday, 24 April 2017 22:16

General Information About VA Loans

At Indigo Mortgage, our VA loan division closes more VA loans than any other mortgage company in New Mexico. Here’s some basic information for veterans who are interested in this type of loan.

Borrowers can have multiple VA loans. If all previous VA loans have been paid off, a veteran can take out another loan. In fact, a veteran can have two VA loans simultaneously. Borrowers can split their entitlement and purchase two properties, as long as both loans do not exceed a combined total of $417,000, the new loan is over $144,000, and the new VA loan is an owner-occupied loan.

VA allows 100% cash-out on refinances. If a lender tells you that they only allow 90%, keep looking. At Indigo Mortgage, we offer 100% cash out, without compromising our low rates.

VA now allows jumbo mortgages. Borrowers can get mortgage loans over $417,000.

The VA never requires mortgage insurance, but there is a funding fee. The funding fee can be waived if the veteran receives 10% or more disability.

Be wary of lenders offering outrageously low rates. Typically, when a lender offers unbelievably low rates, they’re adjustable rate mortgages, not fixed rate mortgages. These types of mortgages can be very expensive to buy down, and aren’t really worth it.

Keep it local. When you’re shopping for a VA loan, remember to shop local. A local mortgage broker like Indigo Mortgage is easier to work with face to face, and can often save you money!

Published in Blog
Thursday, 11 August 2016 16:54

KKOB on August 9

Indigo Mortgage is excited to announce that we have partnered with the Lobos in a promotion called The Hero of the Game to recognize and thank veterans for their service.

To nominate your Hero of the Game, just go to www.golobos.com/hero and write a brief summary on why your nominee should be recognized to be the hero of the game.

Once a winner is chosen for each football game and select basketball games, the nominee will receive the VIP experience and 4 tickets to the game they are being honored at.

Published in Radio
Wednesday, 27 July 2016 15:13

KKOB on July 26

The VA construction loan has several benefits for veterans in New Mexico.

The one-time close construction loan that is offered by Indigo Mortgage goes from a construction loan to a permanent loan once construction is completed. Veterans are able to lock in their rates prior to construction until it is converted to the permanent loan. These rates are the same as the regular VA rates as well.

There are only a select few lenders that offer this type of VA loan, and Indigo Mortgage is a certified broker capable of answering all of your construction and VA loan questions.

Published in Radio
Wednesday, 15 June 2016 21:49

KKOB on June 14

Veterans have many choices when it comes to VA loans.

Veterans can use their benefit multiple times with previous loaans being paid off, this is known as subsequent use.

Veterans also have the option of splitting their loan benefit into two and have them out at the same time. The Veterans Administration now allows 100% cash-out on refinances, so continue to shop your mortgage if you are told that the VA only allows 90% cash out.

Be sure to stay local with Indigo Mortgage and get the most out of your VA loan.

Published in Radio
Tuesday, 14 June 2016 17:14

VA Loans - Multiple Uses

For decades, US military veterans have been able to use VA or Veterans Administration loans to purchase a home. With mortgage rates again at historic lows, veterans are increasingly purchasing or refinancing homes. Here are important points about VA mortgages.

Published in Blog
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