Most experts believe mortgage rates will “break loose” and start dropping by the end of the year. For homeowners currently locked into higher rates, this is welcome news. Refinancing into a lower rate could save hundreds of dollars a month and tens of thousands over the life of a loan. But here’s the key: the borrowers who prepare now will be in the best position to take advantage of those lower rates when they arrive.

At Indigo Mortgage in Albuquerque, company president Ben Lucero and his team encourage homeowners to be proactive. The opportunity to refinance is exciting, but the reality is that when rates fall, borrowers are also at risk of being targeted by aggressive and misleading offers from large, national lenders. Getting ready now—before the marketing storm hits—is the smartest move you can make.

The Coming Wave of Lender Offers

As soon as rates start dropping, borrowers will be bombarded with phone calls, emails, text messages, and mailers from lenders across the country. On the surface, many of these offers will look attractive: promises of “lowest rates ever,” “easy approval,” or “fast cash-out refinancing.” But behind the sales pitch, not every lender has your best interest in mind.

Ben Lucero has seen it happen time and again. “National companies make money when they convince you to accept terms that are more profitable for them—not necessarily better for you,” he explains. That often shows up in two ways:

• Pressure tactics. Some lenders push borrowers to refinance quickly, creating urgency so you don’t have time to compare offers.
• Hidden costs. Other lenders dangle a low rate in front of you, but only achieve it by charging thousands in upfront fees to “buy down” the rate. Those costs often aren’t disclosed clearly until late in the process.

Borrowers who don’t shop their mortgage around risk falling for these tactics and paying much more than they should.

How Lenders Profit Off Borrowers

It’s important to understand how lenders profit from mortgages, especially during a refinance boom. When a borrower accepts a higher rate than necessary, the lender often earns more money. That means they’re incentivized to steer you toward a rate that benefits them, not you.

For example, a homeowner with a $300,000 mortgage could be pressured into taking a rate that’s 0.5% higher than what’s available elsewhere. That seemingly small difference can cost more than $100 a month, or over $30,000 during the life of the loan.

Other times, lenders use what looks like an amazing low rate—say, 5.25% instead of 6%—but require the borrower to pay $8,000 to $10,000 upfront in “discount points.” Unless you stay in the home long enough to recover those costs, you’ve paid a premium that mostly benefits the lender.

According to Ben Lucero, “The sad truth is that many lenders are experts at making a loan look attractive on paper, but once you factor in the real costs, it’s a raw deal for the borrower. That’s why transparency is so important.”

Why Shopping Your Mortgage Matters

The most important advice Ben Lucero gives borrowers is this: never accept the first offer without comparing it. Shopping your mortgage is the single best way to protect yourself from overpaying.

When homeowners bring Indigo Mortgage quotes from national lenders, Ben and his team often find:

• Indigo Mortgage’s rates are lower by as much as a full percentage point.
• Indigo Mortgage’s fees are thousands less.
• Loan terms are structured with the borrower’s long-term benefit in mind.

Borrowers who only look at one offer may never know they’re paying too much. By shopping around, you create competition, and that often results in a much better deal.

Prepare Now for Lower Rates

Being “ready” doesn’t just mean waiting for rates to drop—it means taking practical steps now so you can act quickly when the opportunity arrives. Here are five things Ben Lucero recommends you do today:

1. Know your current mortgage details. Write down your loan balance, interest rate, and monthly payment.
2. Check your credit profile. Your credit score impacts the rates you qualify for.
3. Gather your documents. Tax returns, pay stubs, and bank statements are commonly required.
4. Identify your goals. Decide whether your priority is lowering your payment, shortening your term, or taking cash out.
5. Line up a trusted lender. Don’t wait until your phone is flooded with offers—establish a relationship with a local, reputable company like Indigo Mortgage now.

VA Loans and Veterans in New Mexico

For many borrowers in Albuquerque and across New Mexico, VA loans are one of the most powerful refinance options available. Veterans and active-duty service members often receive competitive rates and flexible terms through VA mortgage programs.

But just like with conventional loans, national lenders sometimes use VA loans to pad their profits. Ben Lucero has compared Indigo Mortgage’s VA refinance rates against those of large, national lenders many times. “Time after time, we’ve been able to save veterans thousands of dollars in costs and lower their rates significantly,” he says.

That’s why Indigo Mortgage strongly encourages veterans not to assume that a big company with “veteran” in its name is automatically the best option. Local expertise, honest advice, and true transparency often mean the difference between overpaying and saving big.

Why Choose a Local Lender Like Indigo Mortgage?

The difference between a national call center and a trusted local mortgage company is night and day. At Indigo Mortgage, Ben Lucero and his team live and work in Albuquerque. They’ve built their reputation on transparency, honesty, and putting borrowers first.

Here’s why shopping local matters:

• Personalized service. Ben and his team take time to understand your goals.
• Transparent costs. Every rate and fee is explained upfront.
• Community trust. Indigo Mortgage has served New Mexico for years, built on referrals and repeat clients.
• Real savings. Indigo Mortgage regularly beats national lenders on both rates and fees.

By working with Indigo Mortgage, you’re getting a partner who is committed to helping you save money—not a company looking to squeeze profit from your refinance.

Red Flags to Watch Out For

As you prepare for the refinance wave, Ben Lucero advises watching for these warning signs:

• Unsolicited calls and texts. Be cautious of lenders who pressure you out of the blue.
• Too-good-to-be-true rates. If the rate sounds far below the market average, ask about hidden costs.
• Urgency tactics. If a lender insists you must “act today,” take a step back.
• Vague fee explanations. Always request a detailed loan estimate that itemizes every cost.

FAQs About Refinancing in Albuquerque

Can I refinance even if I bought my home recently?

Yes. As long as you meet program requirements, you can refinance anytime. The key is whether the new terms save you money.

Do I need perfect credit to refinance?

No. While a stronger score may qualify you for lower rates, Indigo Mortgage and Ben Lucero help borrowers across a wide range of credit profiles.

Is refinancing worth it if I plan to sell soon?

If you’re moving in a year or two, savings may not outweigh costs. But if you’ll stay longer, refinancing can be a smart move.

What about cash-out refinancing?

Cash-out refinances can be a great way to access equity, but Ben Lucero always cautions borrowers to weigh the long-term costs before deciding.

Can veterans refinance with a VA loan?

Yes. VA streamline (IRRRL) refinances are often faster and come with reduced costs. Indigo Mortgage specializes in VA mortgages and ensures veterans don’t overpay.

The Bottom Line

Lower mortgage rates are on the horizon, and that means opportunity for homeowners across Albuquerque and New Mexico. But it also means an onslaught of offers from lenders who may not have your best interest at heart. Don’t fall for high-pressure tactics or “too good to be true” offers that hide expensive fees.

Instead, prepare now. Gather your information, clarify your goals, and when the time is right,