As 2021 wraps up, you’ve probably heard the news that the Federal Reserve has had meetings and announced their plan to address rising inflation across the United States. There are a few actions that the Federal Reserve can take to try to lessen inflation, namely raising the federal funds rate and quantitative easing. Today, the
Good news for Colorado homebuyers! The private corporations chartered by Congress to provide stability and affordability to the mortgage market, Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation) have raised the maximum loan limit from $548,000 to $625,000. This means a borrower can now take a mortgage up
As consumers know, the current mortgage interest rates are at the lowest levels in history. Those great rates have given many home owners and potential home owners the incentive to take advantage of the low rates to purchase a more expensive home or to refinance. Because of that demand, there are so many loan applications
Recently the feds have announced they are raising the new maximum loan amounts for conventional mortgage loans, effective on January 1st 2021. That means loans can go to a larger amount without being considered a jumbo loan, which carry higher interest rates. The current loan limit for conventional loans is $510,000; beginning in 2021, that
The number of homes that have installed solar panels on or around people’s homes have really increased, especially in the west, and that’s a positive thing. However, one impact of solar panels that most homeowners don’t realize that when they finance or lease these panels, is the impact the panels have on their home’s title.
Mortgage rates are currently at all-time lows and many homeowners are taking advantage of that, refinancing to an even lower interest rate. But, we want to explain a new fee that lenders will be charging on conventional loans as of Oct. 1, 2020. Throughout 2019 and into the 1st quarter of 2020, mortgage rates were
Now, in September 2020, mortgage rates are about the lowest in history. Because of that, mortgage lenders in Colorado have been hit with a deluge of new applications which is causing a backlog across the mortgage industry. Overall it is taking longer to get an appraisal, the time needed for underwriting has been extended, and
Some Colorado home owners who have taken advantage of a loan forbearance from their mortgage company. A forbearance is basically taking a three month reprieve from mortgage payments without having it affect your credit score or having it counted as being delinquent in payments. This was a welcome break for home owners during the Covid-19
As homebuyers know, the mortgage interest rates have declined to the lowest in history during the summer of 2020, but there are still some challenges to consider for people buying or refinancing a home. The first challenge affects home owners who took advantage of a forbearance, which is when your mortgage lender allowed you to
In 2020, the Veterans Administration has recently ended down payments for VA Jumbo loans. Previously, for Jumbo loans, including loans up to $765,000 in designated areas of the US including some in Colorado, the veteran would make a down payment that was a certain percentage of the loan, based on their guarantee available from the
Mortgage rates are at historic lows and the current market inventory is still tight. Can having an important asset like a pre-approval or a pre-qualification when looking for a home help during this time? Indigo Mortgage Colorado knows the real estate market is very competitive. You can set yourself apart by using a pre-approval or
With everything going on, it is important to stay patient. This is something we want to encourage our mortgage borrowers to do when going through the process for a home loan. Here’s why. The mortgage market is currently experiencing a lot of changes. This is due to the effects of COVID-19 on the production side
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 Colorado market looks like right now in May 2020. Due to uncertainties in
As you know, due to COVID-19, Colorado has now enforced a shelter in place. Indigo Mortgage Colorado is considered an essential business under this ruling, which has allowed us to continue to serve the people of Colorado. When the shelter in place was initially issued, we weren’t sure it would apply to mortgage companies. This
With everything going on in the world, many programs have gone into effect to help those in need. Below we will cover a new program that allows homeowners effected by COVID-19 to receive assistance with their home mortgage payments. The government has stepped in and is lending a helping hand to lenders so they can
With all that’s going on today in the world, Covid-19 is at the forefront of many of our thoughts. It’s important during uncertain times like these to remain positive and look on the bright side of things. At Indigo Colorado, we know that God still loves us, our families, and is giving us an opportunity
Everything going on in the world has had a huge impact on the stock market as well as home mortgage rates, especially in New Mexico. Below is our take on what’s going on and how we can help. The federal government recently dropped the federal interest rate to zero percent, however, it’s not what most
When it comes to getting a mortgage loan, low rates are great. But can they sometimes be too good to be true? Here’s what to look for when you see low rates being advertised. At Indigo Mortgage Colorado, we see borrowers come in stating that they are seeing low interest rates below 3%, usually around