Always ask your mortgage lender about origination and discount points to make comparing mortgage offers easier. Mortgage rates are still at historic lows, but all lenders are not equal in how they offer those low rates. It’s important to not only get the best or lowest interest rate available but more importantly to know what
Getting a lower interest rate doesn’t necessarily mean it’s a good time to refinance your mortgage. We often have borrowers call and ask, “Does it make sense for us to refinance?” We take this question very seriously as borrowers really just need someone to shoot straight with them. We tell them that it’s not our
Don’t reward bad lenders. Many mortgage borrowers in this market have heeded our call to shop their mortgage around, especially when dealing with that “quick in pocket-sounding lender” or that VA lender that is supposed to “unite” veterans. They call us because they want to compare offers to see if they are getting a good
Some lenders today are treating the biggest financial transaction of people’s lives like it’s as easy as buying a pair of shoes on the internet. You’ve seen the advertisements – “just click this button and get a mortgage”. Mortgages are a big deal and they are very personal, so why do internet lenders assume borrowers
Today in early 2021, the real estate market is hard to navigate if you are a home buyer. It’s a sellers’ market with increasing prices and a limited inventory of homes, plus with mortgage rates at historic lows, a lot more buyers are in the market to buy a home. That all means more stress
There are several steps in the actual mortgage process, as a home loan moves from application to funding. At Indigo Mortgage, we have developed a system to streamline that process and keep your mortgage moving quickly. To do that, we have created three departments: origination, set up, and processing. Indigo Mortgage is a mortgage broker,
With so many New Mexico veterans taking advantage of the Veterans Administration loans to purchase homes, there is some mis-information about what exactly the “zero down” VA loan means. The VA purchase loan indeed offers the veteran a zero down payment, meaning the VA will allow financing of 100% of the property’s purchase price. But
A VA Streamline IRRL loan, also known as a VA IRRL (for “interest rate reduction loan”) is a loan designed for a veteran to refinance his or her current VA loan into a loan to get a lower interest rate and lower monthly payment. The IRRL refinance must be a VA to VA refinance. It’s
Some homeowners in New Mexico have recently taken advantage of a loan forbearance from their mortgage company. A forbearance allows the homeowner to pause three months’ mortgage payments without having it affect your credit score or having it counted as being delinquent in payments. Forbearance was helpful for home owners during the Covid-19 crises, but
The real estate market is very competitive and with mortgage rates at historic lows many people are out there making offers on homes. One way to set your offer apart is to accompany your offer to the seller with a Pre-approval vs just a pre-qualification. This gives the seller confidence the loan is solid and