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
A change has happened for mortgages on investment properties and second homes. Fannie Mae and Freddie Mac, companies chartered by Congress to purchase mortgages from financial institutions and repackage them for investors, just made it more difficult and expensive for lenders to offer mortgages on these types of properties. In a nutshell, Fannie and Freddie
While mortgage rates have come up a bit from recent record low rates, they are still hovering in what is a historically low interest rate range. A question we frequently hear is “When are mortgage rates going up again?”. In 2020, we shared that the experts predicted interest rates would go up around the month
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
As the country moved to reduce the spread of coronavirus by shutting down non-essential businesses, millions lost jobs — and without income, many homeowners are concerned about their ability to pay their mortgage. In fact, in Bankrate’s latest survey, 54 percent of borrowers expressed concern about making payments. Meanwhile, those still able to pay their
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
With COVID -19 disrupting the mortgage market, there have been many unexpected changes. Below is an update as to where things are in the mortgage industry, according to the Indigo New Mexico team. As consumers know, mortgage interest rates have declined and are currently the lowest in history. With that being said, there are still
With rates for home loans reaching historical lows once again, many are wanting to make new home purchases or refinance their existing home mortgage loans. At Indigo Mortgage, we want to give New Mexico borrowers some advice on what questions to ask and what information they need to receive a quality mortgage rate quote. When
It is evident that COVID-19 has had a huge impact on many areas of life, specifically the job market and employment. The team at Indigo Mortgage New Mexico is here to inform you of changing loan programs during the pandemic. Because of the uncertainty, COVID-19 has had on people’s employment, many loan programs are harder
During these uncertain times, there are many options available for homeowners when it comes to their home mortgage loan, specifically mortgage forbearance. The team at Indigo Mortgage is here to help educate you about mortgage forbearance and to help you decide if it is right for you. Right now, many large mortgage companies are offering