How do you refinance out of a real estate contract or a lease to own contract? First, let’s distinguish between a real estate contract or REC and a lease to own contract. On a REC, the borrower actually goes on the title to the property along with the seller; that title is recorded with the
Here’s some great news for New Mexico homebuyers! Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), the private corporations chartered by Congress to provide stability and affordability to the mortgage market, have raised the maximum loan limit from $548,000 to $625,000. This increase means that a borrower can
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
If you’re purchasing a home or property in New Mexico, or your are refinancing your current home loan, you already know that interest rates are the lowest in history. This is a great time for homeowners and new home buyers to lock in these low mortgage rates, and save thousands of dollars in interest over
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 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
At Indigo Mortgage New Mexico, we consider ourselves true mortgage brokers. Here are a few things that set us apart from other types of mortgage lenders and home mortgage companies. According to research done by the Consumer Financial Protection Bureau, when it comes to Freddie Mac and Fannie Mae loans, 50-75 percent of borrowers do
The state of the world today during the COVID 19 virus has made an impact on many areas of life, one of which includes the housing market. During this unprecedented time, here’s what you should know about home mortgages and what the New Mexico market looks like right now in May 2020. Due to uncertainties