A home purchase is a huge financial commitment. When it comes to finding the right mortgage lender, it pays to shop around, but what questions should you ask? Indigo Mortgage New Mexico is here with tips on how to shop for your mortgage.

At Indigo Mortgage, we always advise borrowers to shop their mortgages. Rates and fees can vary drastically from lender to lender. The market is currently experiencing fairly high-interest rates. In this high-rate environment, finding a mortgage lender that offers the lowest home mortgage rates and fees is important.

When shopping for a mortgage, it’s crucial to ask the mortgage lender their best rate and the cost to secure that rate. Lenders can throw out low rates, but they often come at a huge cost to the borrower. It is also important to inquire about the lender fees. These fees are origination fees, discount fees, or points. Lender fees are the only fees a lender controls, while all other fees, such as title and escrow, will be the same with all lenders. We urge you, as the borrower, to look at the interest rate, plus the origination and discount fees to compare offers.

Over the last few months, the team at Indigo Mortgage has been able to offer borrowers lower rates and help them save thousands in closing costs. We are committed to assisting borrowers in the community get the best deal possible. Reach out to us today to see what we have to offer for your new mortgage. We serve the Albuquerque Metro and all of New Mexico for conventional home loans, VA loans, refinances, and construction loans.