Tag: home loan

online mortgage versus a local mortgage broker

Many prospective home buyers or people wanting to refinance may have never done a mortgage application before or it’s been some time since they did an application. And because of today’s higher mortgage interest rates and uncertainty, borrowers can be uneasy about applying for a mortgage. In an age of electronics and computers, it’s becoming

mortgage broker

If you’re in the market for a new home loan or to refinance, it’s important to distinguish between a mortgage lender and a mortgage broker. Loan officers at a mortgage broker (like Indigo Mortgage) actually work for the borrower, while loan officers from a mortgage lender represent the bank. If you’re applying for a mortgage

Mortgage down payment options

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

Mortgage brokers offer better service

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

Buying a home from family

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

Mortgage contract

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 score report

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

The UWM 1% down payment program

Our biggest wholesale lender, United Wholesale Mortgage (UWM), recently announced that they are allowing partners to offer a 1% down payment for first-time home buyers’ mortgages. We have seen many borrowers benefit from this mortgage program. The program does initially require a 3% down payment, but UWM will grant an additional 2%, meaning a borrower can now

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5501 Eagle Rock Ave NE, Bldg B
Albuquerque, NM 87113
Call: 505-836-5700
Fax 505-212-0633

NMLS #188348
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