Veterans are starting to get hammered by mortgage lenders all over the country, trying to get the veterans to do a VA streamline refinance. Because mortgage interest rates are starting to come down to the low 5% range for VA streamline refinances, every veteran with a home loan above 6% is getting inundated with offers
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
As we are all witnessing, home values have increased exponentially in the last few years. If you’re currently not in the seller market, you’re likely sitting on a lot of equity. If you need to tap into that equity, you can do so in a couple of ways. You can either do a full refinance
With a constantly changing housing market comes significant changes to home mortgage loans. The Indigo Mortgage New Mexico team is here to tell you more about these changes and how they impact cash-out refinances. Fannie Mae and Freddie Mac are now making it harder and more expensive for borrowers to do a cash-out mortgage transaction.
Solar panels installed on or around homes have grown in the New Mexico region, which is positive. The negative part of solar panels is that most Albuquerque homeowners don’t realize that when they finance or lease these panels, it affects their home’s title and is considered a second mortgage. At Indigo Mortgage, we want to
As homeowners know, their home values have gone up exponentially in the last few years, all across Albuquerque’s metro and the rest of the New Mexico too. Many homeowners are sitting on a lot of equity and they would like to tap into that equity for cash out for a many reasons, like home improvement,
In today’s tight housing market, homeowners who are looking for a larger home or an updated home may find Rehab Mortgage Loans a better solution than selling their current home and purchasing a new home. A rehab loan lets you bundle your current mortgage with the home improvement cost rolled into one loan. Rehab mortgage
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
When we had the last big mortgage meltdown, the feds said mortgage lenders can no longer lend on just a credit score and use income without verification of that income. These were known as stated income loans. All mortgage loans that fall under conventional, FHA and VA mortgages must now have income verified, either with
As consumers know, the feds are determined to raise interest rates beginning in March 2022 and have announced at least three more increases during 2022, in an effort to slow inflation. Mortgage rates are not directly tied to the feds raising interest rates and home loan rates look like they’ll settle somewhere in the low