Indigo Mortgage, an Albuquerque, New Mexico mortgage company with four lending divisions to serve the residential, commercial, VA and reverse mortgage markets, provides existing homeowners in the Albuquerque area with reverse mortgage products that can help them tap into their home equity and enhance their retirement strategy for a higher level of monthly funds.
The National Reverse Mortgage Lenders Association defines a reverse mortgage as a loan that allows homeowners over the age of 62 to “convert part of the equity in their home into cash.” The borrower is not required to pay the loan back until the home is either sold or is vacated for some other reason.
In commenting on the benefits of Indigo Mortgage’s reverse mortgage program, Benjamin Lucero, President, said, “Reverse mortgages help those of retirement age by essentially giving them a credit line to use when they need it. The programs offer either lump sum payments or monthly income payments, which allow older homeowners to choose a method that fits with their retirement needs. Our FGA government-backed programs do not require any payments, credit reports, or income and asset verification. We also offer a new saver program for additional ways to enhance your retirement strategies. Our expert team meets with each person interested in the program so that they can provide a thorough explanation of reverse mortgages as well as offer a custom solution that matches their individual needs.”
Indigo Mortgage’s reverse mortgage programs do have some specific requirements:
- Government third-party counseling as required by law;
- Must be 62 years or older to qualify; and
- The reverse mortgage can only be done on your primary residence.
- Other requirements may also apply, which can be provided during a no-obligation meeting with Indigo’s mortgage team.
The company understands the importance of providing customers with the education and information they need to make smart financial decisions. The company’s website offers lists of supporting documents, a quick online loan analysis, and a blog (http://indigomortgage.blogspot.com) that covers topics related to loan programs, pre-qualification, and the loan process, including more information about reverse mortgages.
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: Albuquerque Residential Mortgage Division, Albuquerque Commercial Loan Division, Albuquerque VA Mortgage Loan Division and Albuquerque 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.