At Indigo Mortgage New Mexico, we consider ourselves true mortgage brokers. What does this mean exactly? Below we will explain the key differences between a broker and other types of mortgage companies. There are 2 types of mortgage companies, mortgage brokers, and the “other guys”. We say this because the mortgage brokers are the ones
When purchasing a home, it’s very important to take the interest rate of the home loan into consideration, however, there are also other things to consider when looking for a mortgage. As of March 2020, mortgage interest rates are at a historic low in New Mexico. It is also a seller’s market. These two things
Now that interest rates are at a historic low, many homeowners are taking advantage of special programs available to them. These include VA Streamline Loans for Veterans. Many Veterans are currently taking advantage of the VA Streamline loan. It’s important to do your research when it comes to these types of loans, especially when it
We all know how stressful purchasing a home can be. It’s important to have a brief knowledge of what you are getting in to before diving deep into the real estate market. Here’s the difference between pre-approval and pre-qualification, and how they affect you as a buyer. Today’s real estate market is a seller’s market,
When purchasing a home, it’s very important to take the interest rate of the home loan into consideration. A lower interest rate can end up saving you a large amount of money in the long run. At Indigo Mortgage, we make it our goal to educate the borrower as much as possible as well as
VA mortgage loans have made dramatic changes over the last few months. Here’s a general outline of the VA program and the most recent changes that have occurred. The VA has increased their funding fee requirements. The funding fee for a first-time use VA loan will increase from 2.15% to 2.3%. For subsequent use VA
With 2020 right around the corner, big changes are coming to the world of home loans. These changes are specifically concerning VA loans. Here are a few things to come to New Mexico home buyers in the new year. Starting January 1st, the VA will classify all loan amounts the same. In other words, there
It’s the beginning of a new decade, and with it comes many changes to home loans and mortgages. These changes are coming to many areas, but today, we will specifically focus on conventional and VA mortgages. Beginning January 1, 2020, big changes will take effect. Conventional loan limits will increase from $484,150 to $510,400. This
Our company president, Ben Lucero, loves to share stories when our customers shop for a mortgage. Last week, a realtor called Indigo Mortgage and said one of her clients was quoted an interest rate of 5.75% on a Federal Housing Administration purchase loan. She thought that was way too high and we suggested her client