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
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
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
In today’s lending landscape, borrowers must be vigilant about maximizing their savings when seeking a mortgage on a new home. Lenders often charge borrowers exorbitant fees to maximize their profits. To secure the best rate possible, comparing offers from various lenders and communicating effectively with them is essential. Make informed decisions by asking questions like,
2023 is around the corner, which means the housing market is bound to change. Indigo Mortgage New Mexico has a few market updates for the new year. Fannie Mae and Freddie Mac recently announced that the max mortgage loan limit is increasing in 2023. The max mortgage loan limit is going from $647,200 to $715,000.
When purchasing or even owning a home, it’s important to stay educated when it comes to home mortgage loans. Reverse mortgages, in particular, can be a great asset for senior borrowers, but they have gotten a bad rap recently. The Indigo Mortgage team is here to educate you and set the record straight about reverse
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