MORTGAGE INFORMATION
There are ample lenders in the Albuquerque area, and with so many programs available, it would be impossible to start naming them.
The typical methods of financing homes in Albuquerque are FHA, VA, and Conventional. There are some homes on the market that have an existing mortgage that can be assumed at the issued rate of interest (FHA and VA loans). Most Albuquerque lenders will not allow old conventional loans to be assumed, but will increase the interest to a level somewhere between the original stated interest and the current prevailing rate. This new issue is often based on an adjustable rate index.
Some sellers of properties will also carry back a mortgage for part of their equity at below market rates, thereby making their homes very attractive. As you can see, Albuquerque has every conceivable type of financing available to help you purchase that "just right home".
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