When it comes to your home mortgage, a low-interest rate is great, but sometimes it can be too good to be true. Here’s why you should proceed with caution when jumping into a program with a national lender. As we had mentioned in our previous blog, interest rates are currently at a historic low. This
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
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
VA mortgage loan programs have made some dramatic changes over the last few months. Indigo Mortgage Colorado wants to keep you informed of these changes so you can be prepared for them. Here’s a general outline of the most recent changed to the VA program. First off, the VA has increased their funding fee requirements
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
Purchasing a new home or business can be intimidating, to say the least. If not familiar with the loan process, one may have an endless list of questions. It is important to have someone you can rely on for your home loan or mortgage loan inquiries. We strive to be just that for people in
Choosing the right mortgage company when refinancing is imperative. Making a quick decision doesn’t always provide the best outcome. It’s important to have a clear understanding of what you are looking for when you set out to refinance your home. A great deal may not necessarily be all that it appears to be. In December
The VA home loan offers some great benefits for the veterans still in the military who have their certificate of eligibility or those just coming out of service, either from deployment or once they completed their active duty. Many of these veterans have no idea that they can qualify for a new home or even
Veteran’s Administration or VA loans offer military veterans advantages in the mortgage process. The first opportunity is that the VA allows a cash-out refinance, meaning they can pull up to 100% of the home’s value. The veteran can use the cash for whatever purpose they choose, whether it’s to combine a 1st and 2nd mortgage,
A Veteran’s Administration or VA jumbo loan is used when a veteran needs a mortgage above $453,150, the current limit for conventional mortgages. For veterans looking to purchase a home, the best reason to consider a VA jumbo loan is that the interest rate today is in the mid 4% range on a 30 year
At Indigo Mortgage Colorado, we believe knowledge is power. The more you know about the mortgage process and the state of the market, the more likely you are to find a great deal that works for your lifestyle. A recent study conducted by the Consumer Financial Protection Bureau delved into the shopping habits of home
Preapproval is necessary for the home-buying process. In fact, it’s so necessary that realtors in the Colorado Springs area are hesitant to show a home to a potential home-buyer unless the borrower has already been pre-approved for a mortgage. Similarly, the pre-approval is involved in a mortgage application. You will provide detailed information on your
Many mortgage lenders make offers for first-time home owner loan programs or first responder programs. However, they embellish what those mortgage loans really are. For example, one mortgage lender promotes that nurses, first responders or veterans can get loans with zero fees. The reality is, the lender charges a higher interest rate to compensate for