When preparing to buy a home that will have a mortgage, borrowers are required to come up with a down payment and closing costs. That money can come from different sources. The first is the borrowers have saved the money and have it already in a checking or savings account. The next way is that
Tag: Albuquerque mortgages
In today’s mortgage market, there are several options for down payments on a home purchase. At Indigo Mortgage, we have our 100% financing option called Indigo Bright Start. In our exclusive program, borrowers don’t have to put down any money and there are no income restrictions. First time home buyers can also put as little
Today, mortgage brokers make up 25% of the mortgage market, an all time high. The other option for a home loan is using a mortgage lending division attached to a bank or offered through a home builder. Mortgage brokers are adept at helping all types of borrowers for home mortgages. Because mortgage brokers have access
Exciting news for New Mexico residents! Indigo Mortgage is thrilled to offer exclusive VA streamlined refinance rates, starting as low as 5.49%-5.75%. Our largest lender has authorized these rates for eligible veterans, providing a 30-year fixed rate with a minimum credit score requirement of 640 and a loan amount of at least $200,000. This special
Most experts predict mortgage interest rates will decrease around April/May 2024. When rates come down, they will be about 1.5% to 2% lower than they currently are (6-7%). Those who took out a mortgage in the past two years may consider refinancing to take advantage of the lower interest rates. This could save them hundreds of dollars
There are unfortunate situations, such as a divorce, where a local mortgage company like Indigo Mortgage can be a true advocate. A local New Mexico lender like us will be much more attentive to your needs as a borrower when compared to any other national or out-of-state lender. There are many pieces to a puzzle
In New Mexico, it’s a common practice among family members to sell their homes to their loved ones instead of on the open market. This type of sale helps to maintain ownership of the family’s property and ensure that the home is passed down to future generations. This presents an excellent opportunity for both family
The Federal National Mortgage Association, or “Fannie Mae,” was established in 1938 to expand access to loans for families, including those in the New Mexican market. They “don’t originate mortgage loans or lend money directly to borrowers. Instead, [they] purchase mortgage loans made by lenders, who are then able to use those funds to offer
Credit scores play a significant role in mortgage lending. In today’s rate environment, a better score equals a better rate. It’s currently a slow time for real estate, which makes it the perfect opportunity to focus on raising your credit scores. By improving your scores now, you’ll be better positioned to borrow money for a
Because Indigo Mortgage has the VA Mortgage Loan Center, many veterans over the years have come to trust us in offering them both ethical and honorable deals. Like other consumers, veterans should shop their mortgages around to find the best rates and lowest fees. When we see an offer for a VA home loan from