FHFA Baseline Conforming Loan Limit Increased to $766,550
2024 FHFA Baseline Conforming Loan Limit Increased to $766,550
At Dimond Mortgage, We make the complex simple
At Dimond Mortgage, our first priority is to our clients and community. We know how daunting it can be to purchase a new home, or refinance your current one.
With our expertise and know-how, we'll help you save money, and reduce stress so that you can focus on your real priorities.
Trust is the foundation of great service
We will work with you to get the best financing arrangement possible, and we will never take our relationship with you for granted or betray the trust you place in us. You will find, like the many satisfied customers shown on this site, that Dimond Mortgage is truly a cut above for all your mortgage needs.
Find the right loan program for you
Conventional Loans
Conventional loans can be used to purchase or refinance primary residences, second homes and investment (rental) homes. Conventional loans have fixed rate and adjustable rate options.
Refinancing
Homeowners may want to refinance their existing mortgage for various reasons. One may refinance if rates are lower than their current note in order to save money and/or if the homeowner wants to borrow additional money against the equity in their home.
Construction Loans
Construction loans are short term interim loans used to build or renovate a home. These loans typically act as a line of credit enabling the borrower to disburse money to a builder as the building project proceeds.
Adjustable Rate Mortgage
The rate on an Adjustable Rate Mortgage (ARM) is fixed for a pre-determined set of time and then adjusts, usually on an annual basis after that. ARMs can be fixed for different periods, the most common being 3/1, 5/1 and 7/1 ARMs.
Government Loans
In addition to conventional and jumbo loans, we offer three categories of government loans. Each of these loans can be utilized to purchase a home or refinance an existing mortgage.
USDA loans
VA Loans
FHA Loans
Jumbo Loans
These are residential loans over $417,000. These loans also offer both fixed rate and adjustable rate options and typically require at least 20% down.
What Goes Into a Monthly Payment?
The Down Payment
is the portion of the sale price of a property that is not financed. The amount of the down payment can affect the interest rate you receive. Lenders typically offer lower rates for borrowers who make larger down payments.
Length of the Loan
The loan term is the amount of time or number of years that you will have to repay a loan. Longer term mortgages can make the amount you pay each month smaller as opposed to shorter term loans, by stretching out your payments over more years.
Property tax
Property tax is any tax on real estate . The proceeds from property taxes represent one of the principal sources of income for local and state governments.
Homeowners’ insurance
provides financial protection in the event that the homeowner’s house or its contents are damaged. It also provides protection in case the insured or their family are held liable for injuries to other people or damage to their possessions while they are on the property.
HOA Fees
A homeowners association, or HOA, is an organization within a community that sets the rules for properties in its jurisdiction and enforces them. The HOA collects fees from its member property owners to pay for maintenance and sometimes property taxes (check with your realtor to see what -if any - HOA fess there are and what they cover).
Interest rate
is the amount you’ll pay annually to borrow the money for your loan. This is expressed as a percentage.
Testimonials
Want more information?
NMLS: 190187
At Dimond Mortgage we combine mortgage expertise with our understanding and appreciation of our community to help guide you in securing the best possible financing for your home.
392 Taos Mountain Lane
Taos, NM 87571
P: 575 758 5566
F: 575-613-4618
E: processing@dimondmortgage.com
GET DIMOND UPDATES
Website by: eFlow