Mortgage interest rates have recently dropped to their lowest levels in over a year, which should be sparking a surge in home buying activity. However, the housing market remains surprisingly sluggish. This unexpected trend has left many wondering: Why aren’t more people jumping into the market? The Waiting Game: Buyers Anticipate Lower Rates The primary
In the mortgage lending process, one of the most frustrating experiences for borrowers is dealing with the extensive documentation required by underwriters. Among the most common and challenging requests is the need to prove the source of funds for down payments and closing costs. This may seem like an unnecessary hassle, but it plays a
At Indigo Mortgage, we’ve always emphasized the importance of shopping around when securing a VA loan. Recent events have highlighted just how vital it is for veterans to be vigilant when choosing a lender. The Consumer Financial Protection Bureau (CFPB) recently fined New Day USA, a well-known VA lender, a staggering $2.25 million for deceptive
In today’s real estate market, there’s limited inventory for people to “trade up” in the size or location of their home. High interest rates also discourage many homeowners from selling, as they would need to purchase a new home at a higher rate. As a result, some homeowners are choosing to stay in their current
When you are preparing to apply for a mortgage, there are several things that you should know. At Indigo Mortgage, we call it “The 10 Commandments of Applying for a Mortgage”. It’s actually one of the most popular items on our website. Today, we won’t go through all 10 of the commandments but let’s highlight
Mortgage interest rates are expected to drop here in the next couple months. That’s great news, especially for many homeowners who took out mortgages in the last few years who have sky-high interest rates and who will want to refinance. Understanding Mortgage Churning But remember, all lenders make their money off originating mortgage loans and