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In the process of buying a home, whether you’re a first-time homebuyer or you’ve purchased several properties, there are many different parties involved in the financing process for a mortgage.

There’s usually a seller, a buyer, two realtors, a Title company, and the Lender.

Once the seller has accepted the buyer’s offer, those parties all depend on the lender to find financing based on the buyer’s information, and to get the loan closed on time. Ideally, they are all in frequent contact with that lender, getting updates on the appraisal, collecting documents, transferring information to and from the title company, all the while working closely with the borrower.

With all these important processes, people, and timelines, a local lender is much better suited to handle these tasks. Out of town lenders, online lenders, big banks, and national mortgage lenders cannot possibly handle all these with efficiency—they may not even have a dedicated person working on the loan. Everyone, including the borrower, are left dealing with voicemail and talking to different people not familiar with the loan.

At Indigo Mortgage, we encourage borrowers to “stay local”! We encourage home buyers to shop their mortgage to different lenders locally to ensure they get the best rates and lowest fees. Choosing a local lender will make the process of purchasing your New Mexico home and getting your mortgage so much easier—it also keeps more of your money in your community!

NM VA Cash Out Refinance Loan Survey of VA Rates and Fees in New Mexico