It’s a sad truth that some big-name VA lenders, despite their patriotic marketing, often overcharge veterans with high rates and excessive fees. At Indigo Mortgage, we’ve reviewed offers from these national VA Loan companies and have seen shocking discrepancies—sometimes our VA rates are a full percentage point lower, saving veterans tens of thousands over the
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
Exciting news for New Mexico residents! Indigo Mortgage is thrilled to offer exclusive VA streamlined refinance rates, starting as low as 5.49%-5.75%. Our largest lender has authorized these rates for eligible veterans, providing a 30-year fixed rate with a minimum credit score requirement of 640 and a loan amount of at least $200,000. This special
Because Indigo Mortgage has the VA Mortgage Loan Center, many veterans over the years have come to trust us in offering them both ethical and honorable deals. Like other consumers, veterans should shop their mortgages around to find the best rates and lowest fees. When we see an offer for a VA home loan from
In its latest requirement update for 2023, the VA has made significant changes regarding jumbo loans for eligible veterans. One notable change is the elimination of the need for down payments. Now, regardless of price, veterans can purchase a home without any down payment. This rule only applies if no other VA loans are active
As we’ve mentioned during the last few weeks, the rise in the mortgage interest rates has caused a big drop in the number of mortgage loan applications. Some lenders are now chasing profits, trying to keep their net revenue the same while doing fewer deals. Many national lenders are chasing these profits by charging a
Time for an update on options for Veterans Administration loans. First, the VA did away with down payments for VA Jumbo loans, those above $548,250. In the past, for Jumbo loans, the veteran was required to put down a certain percentage amount based on their guarantee available from the VA. This is no longer required,
A VA refinance loan is known as a “VA Cash Out” in several refi scenarios: when the veteran is refinancing more than their property’s current payoff and getting cash back from their equity, when he or she is consolidating a first and second mortgage, or when they are paying off other liens or consolidating debt.
Veterans with an existing mortgage have seen that interest rates are at record lows for Streamline loans or what we call IRRLs, Interest Rate Reduction Loans. This, of course, is a great opportunity for Veterans to streamline a refinance to get into those low rates and save them hundreds of dollars in monthly mortgage payments.