Mortgage Rates Are Dropping – Don’t Miss Your Chance to Refinance! If you’ve been waiting for the right time to refinance your mortgage, now is the time to start preparing. Mortgage rates are trending downward, and homeowners across Albuquerque, New Mexico, are keeping a close eye on the market for the perfect opportunity to lock
When you’re in the market for a new mortgage or to refinance your loan, or even if you’re about to purchase a new vehicle, there’s something important you should know: The instant that a mortgage broker or any lender pulls your credit as part of that application process, the major credit reporting bureaus (Experian, TransUnion,
As VA mortgage rates start to drop, veterans across the country are being aggressively targeted by lenders pushing them to refinance. From online offers to mailers and phone calls, veterans with home loans above 6% are inundated with enticing refinance opportunities. While this might seem appealing, we want to offer a word of caution before
Mortgage interest rates are expected to drop here in the next couple months. That’s great news, especially for many homeowners who took out mortgages in the last few years who have sky-high interest rates and who will want to refinance. Understanding Mortgage Churning But remember, all lenders make their money off originating mortgage loans and
Since early in 2023, we’ve seen higher interest rates for mortgages, across New Mexico and the United States. Rates reached over 7.50%, a dramatic growth from the 2.50% rate we saw in 2020. Now as we approach the summer of 2024, in the short term, high interest rates are persisting but most experts believe that
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
It’s now mid-August 2021 and we’ve seen two recent changes in mortgage loans. Recently Fannie Mae and Freddie Mac did away with their added fee for refinances. The fee was issued on all loans during the early months in 2021 but they just dropped it. What this means for borrowers is that rates are even
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
At Indigo Mortgage, we often get calls from New Mexico home owners who are considering a refinance but they wanted to get some advice on whether it’s the right thing to do. We don’t take those requests lightly as these are real people trying to make serious decisions for themselves and their families. Here are