INDIGO MORTGAGE BUILDS SOLID REPUTATION IN CONSTRUCTION LENDING SERVICES

ALBUQUERQUE, NEW MEXICO. (February 3, 2012). Indigo Mortgage, an Albuquerque, New Mexico mortgage company with four lending divisions to serve the residential, commercial, VA and reverse mortgage markets, announced that it offers a comprehensive construction loan program for new build and remodel projects in New Mexico and the surrounding states.

In commenting on the benefits of Indigo Mortgage’s construction loan program, Benjamin Lucero, President, said, “Our objective is to offer constructing lending services in New Mexico that helps those who want to construct their own properties or undertake a major remodeling project. We recognize that many have lost faith in today’s financial institutions, so we are working diligently to help restore that faith by focusing on customized lending arrangements that are appropriate for each client’s situation and needs. This helps ensure that they can complete their project with less stress and enjoy their dream come true. Our staff focuses on the service aspect of our business just as much as the technical end of the lending business in order to build long-term relationships with every client we service.  

Indigo’s Construction Lending services for New Mexico loan customers are designed as a one-time close construction to permanent loan, which includes the following terms and features:

• The construction loan automatically converts to permanent financing once construction is completed. This facilitates and streamlines the lending process so there does not have to be two qualification processes, two closings, and two loans. This reduces the paperwork, stress, and time involved in the construction loan process.
• The construction interest rate is an interest only loan.
• A permanent 30-year rate is locked in at the beginning of construction with a “free float down option. This helps to lock in a lower interest rate if it drops before construction is finished. 
• There is an up to 90% loan to value ratio.
• Land can be purchased with a construction loan.
• The construction loan can be used for a primary residence or a second home (vacation or investment property).
• Rehab construction loans are available, using a future appraised value to determine the loan to value ratio.

The company understands the importance of providing customers with the education and information they need to make smart financial decisions, including those involving construction, rehab, and remodel projects. Be sure to visit Indigo Mortgage’s blog (http://indigomortgage.blogspot.com) to learn more about the construction lending process.

About Indigo Mortgage

Headquartered in Albuquerque, New Mexico, Indigo Mortgage is a locally owned and operated mortgage company that is 100% certified NMLS (National Mortgage Licensing System) with expert mortgage brokers and loan originators. The company operates four divisions: New Mexico Residential Mortgage Division, New Mexico Commercial Loan Division, New Mexico VA Mortgage Loan Division and New Mexico Reverse Mortgage Loan Division. Indigo Mortgage was founded by Benjamin Lucero and operates on a philosophy of personal service, high integrity, fairness, and moral and ethical behavior. The company’s motto is: “Because nobody cares more for your home loan.” Its definition of integrity is that it is the decisions we make and the actions we take when nobody is watching but the Lord. For more information on their mortgage services, please visit www.indigomortgage.net.