Indigo Mortgage, an Albuquerque, New Mexico mortgage company with four lending divisions to serve the residential, commercial, VA and reverse mortgage markets, announces that the FHA Streamline refinance program is now available and will offer a way to support struggling homeowners in New Mexico and around the country to stay in their homes.
In June, the FHA eliminated the mortgage insurance requirements that were part of the Streamline Finance program so that more homeowners could qualify for this program. The FHA has virtually eliminated the upfront mortgage payment to .01% and the monthly premium is down to about one-third of the current amount. Home owners must meet certain requirements. If home owners have a current FHA loan that was taken out prior to June 1, 2009, then they are eligible for the new FHA low mortgage insurance streamline refinance.
In commenting on the recent changes with the FHA Streamline Refinance program, Benjamin Lucero, President, said, “This is a golden opportunity for present FHA borrowers to not only take advantage of rates below 3.75%, but they will also be able to significantly reduce their monthly mortgage insurance payments. The rest of this year and into 2013 will be potentially filled with many great opportunities for home owners to refinance and provide more reason to stay in their homes despite diminished home values that have many underwater.”
Lucero added, “There is also talk that, due to the current state of the economy, the Federal government is almost certain to implement a third round of quantitative easing, which will include mortgage-backed securities. This has a direct impact on mortgage loans in terms of further lowing interest rates. There is also a new prospective bill designed to enhance HARP 2.0 that seeks to get rid of appraisals, offer no income qualifying, and put penalties in place for lenders that will not subordinate the second liens. The most significant part of this new bill will be to move the eligibility date from May 31, 2009 to May 31, 2010. It will allow second time use if a refinance was done prior using HARP.”
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 about your mortgage loan.” For a quick loan analysis click here Quick Loan Analysis. For more information on their mortgage services, please visit www.indigomortgage.net.
