In today’s housing market, home interest rates are steadily rising. Due to the increased interest rates, some homeowners may choose adjustable-rate mortgages (ARMs) over traditional fixed-rate mortgages. The experts at Indigo Mortgage in New Mexico can help you better understand which home mortgage type is best for you. An adjustable-rate mortgage (ARM) is when the
Purchasing a home is a huge financial commitment. When it comes to finding the right mortgage lender, it pays to shop around. Some buyers are unaware of what’s going on in the current housing market. The number of mortgage loan applications has significantly dropped for lenders in the past few weeks. This means lenders are
In today’s housing market, owning a second residence is not uncommon. Before purchasing a second home, it’s important to know the difference between a second home and an investment property. Although they may seem the same, they are not. A second home is exactly that, a second home. A second home is a residence where
As we’ve mentioned during the last few weeks, the rise in the mortgage interest rates has caused a big drop in the number of mortgage loan applications. Some lenders are now chasing profits, trying to keep their net revenue the same while doing fewer deals. Many national lenders are chasing these profits by charging a
You’ve heard the old saying about a wolf in sheep’s clothing? That’s how we feel about predatory lending and the companies that don’t ethically take care of home buyer’s mortgage applications. We might sound like a broken record but we want to advise borrowers to be very wary of the big national lender predator, the
Even the team at Indigo Mortgage in Albuquerque gets mortgage offers in the mail—and some of them are borderline unethical. Here’s a recent example: our company owner, Ben Lucero received a letter in the mail from a lender he’d never heard of. They offered a 1.75% interest rate and the direct mail piece said he
In the last couple of weeks, we’ve received several calls from borrowers who heard Indigo Mortgage on the radio and wanted a second opinion. They all had a mortgage application in with that national lender who’s name rhymes with “pocket”. These borrowers all said they were just not comfortable with the rate and the fees
Consider this question: if a local mortgage broker can offer what an internet lender can do and more, why not stay local? Because that’s exactly what a local mortgage broker like Indigo Mortgage can offer. We can most often provide the lowest interest rates with the lowest closing costs. We are always accessible to answer
Since mortgage rates are still at or near historically low rates, New Mexico’s homeowners always look for the lowest rate they can find on a new mortgage or a refinance. We caution to be careful that you don’t make the low rate your idol. Exactly, what does that mean? It means that you can make
Now that interest rates are at a historic low, many homeowners are taking advantage of special programs available to them. These include VA Streamline Loans for Veterans. Many Veterans are currently taking advantage of the VA Streamline loan. It’s important to do your research when it comes to these types of loans, especially when it