Indigo Mortgage, an Albuquerque, New Mexico mortgage company with four lending divisions to serve the residential, commercial, VA and reverse mortgage markets, announces lower interest rates now available for jumbo mortgage loans for purchases and refinances.

A mortgage loan becomes a jumbo loan when the loan amount exceeds $417,000. These loans are not backed by Fannie Mae or Freddie Mac so these loans are bought as securitized bundles by outside investors on the secondary market. This means that the interest rates are often considerably higher than conventional loans, especially in recent years due to the mortgage meltdown in 2007 and 2008.

In commenting on Indigo’s competitive mortgage rates for mortgage loans, Benjamin Lucero, President, said, “Jumbo mortgage rates have recently made a huge comeback with more lenders and investors entering the market. This means that borrowers have products available for home purchases or home refinances along with many different terms to choose from. Following suit with interest rates for conventional mortgage loans, which have hit a record low, there are now incredible rates for jumbo loans. Typically, jumbo mortgage interest rates can be in the mid to low 4% range, and fixed 15-year mortgage interest rates are in the upper 3% range. The VA even offers jumbo mortgages above the $417,000 amount while interest rates for VA jumbo can be as low as 3.5% on a 30-year mortgage loan and 3.25% on a 15-year mortgage loan.”

Lucero added, “There are different factors involved in determining loan amounts and interest rates for jumbo loans, so borrowers need to spend some time with their mortgage lender to see what they qualify for and what fits with their specific financial situation. Our goal at Indigo Mortgage is to ensure that every customer we serve is in a loan that is right for them whether it is a conventional loan or a jumbo loan.”

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.