In April 2021, the Veterans Administration has announced an expansion to the VA home loan eligibility for those with National Guard service. This broadens the eligibility for certain members serving in the National Guard. Learn more about the qualifications here. Now, certain National Guard members will have access to the Veterans Administration home loan program
Indigo Mortgage Colorado’s owner, Ben Lucero, shares some recent success stories for VA loans! “Recently, I had a veteran call me and say he got an offer from a local credit union for a VA streamline loan, but he was disappointed in the interest rate they offered and the amount of closing costs. He said
When you’re buying a home and applying for a mortgage, avoid any upfront application fees. Today, some mortgage lenders are charging borrowers an upfront application fee, often $500-$600, when they apply for a mortgage. The lender tells the borrower that this fee will be credited towards the appraisal of the property. Upfront application fees are
Recently, an independent national survey was conducted that evaluated VA interest rates and compared closing costs. The survey looked at the top 10 national VA lenders and compared them to smaller VA lenders. The results showed that the big national VA lenders, names you’d recognize, are clearly charging veterans more than small lenders – the
It’s important to know that there are many different parties involved in the home buying process. There’s usually a seller, a buyer, 2 realtors, a Title company, and the Lender. All of those people depend upon the lender to get the loan financed and closed on time. Ideally, they will all be in constant contact
A VA refinance loan is called a “VA Cash Out” in several refi situations: when the veteran is refinancing more than their current payoff and getting cash in hand, when he or she is consolidating a first and second mortgage, or when they are paying off other liens or consolidating debts. These are all considered
A VA Streamline loan, also known as a VA IRRL (for “interest rate reduction loan” is designed to allow a veteran to refinance his or her current VA loan into a loan with a lower interest rate and lower monthly payment. This type of refinance must be a VA to VA refinance. It’s called a
Homeowners with a conventional mortgage who are working to refinance their loan to a lower interest rate have a new fee that will be added. We’ve advised for the last few months that this fee was coming and it’s here. The fee is known as the Adverse Market Fee and it adds a .5% fee
As a mortgage broker, Indigo Mortgage Colorado has access to the largest wholesale lender in the country and they have approved our company to offer a VA Purchase loan and a VA Streamline Loan with the 30-year fixed rate as low as 2.25%. That’s right– a VA purchase rate or a VA Streamline refinance with
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.
At Indigo Mortgage Colorado, we get calls every day, asking “What’s your best interest rate?” We tell them it’s impossible to accurately answer that until we can get some basic answers from you first. One real piece of advice we suggest, is when you’re ready to make an inquiry about a refi or new home
As you’ve noticed if you’re in the market for a mortgage or a refi, mortgage interest rates have declined to the lowest in history and there are way more borrowers than there are lenders. Because of this, many of the large national companies that promise easy, online applications and funding are actually taking advantage of
Veterans with an existing VA 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 save hundreds of dollars in monthly mortgage payments, by doing a streamline refinance to get into those low
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
We’re living in extraordinary and unusual times in 2020. And, if you’re in the market for a home as well, it can add a whole other dimension to the buying process. Indigo Mortgage Colorado wants to advise you on the difference between an interest rate and an APR (Annual Percentage Rate) and why it’s important
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
As you may know, home loan interest rates are currently at a historical low. Now is the time for borrowers to take advantage of the great low mortgage rates being offered, especially to Veterans through VA loans. Here’s how the Indigo Colorado team suggests Veterans make the most of these low rates. Indigo Mortgage Colorado,
During these uncertain times, there are many options available for homeowners when it comes to their home mortgage loan, specifically mortgage forbearance. The team at Indigo Mortgage Colorado is here to help educate you about mortgage forbearance and to help you decide if it is right for you. Right now, many large mortgage companies are
At Indigo Mortgage Colorado, we consider ourselves true mortgage brokers. Here are a few things that set our team apart from other types of mortgage lenders and home mortgage companies. According to research done by the Consumer Financial Protection Bureau, when it comes to Freddie Mac and Fannie Mae loans, 50-75 percent of borrowers do
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