How Long Does It Take to Get a Loan?

Follow these steps to land the smartest loan.

Step 1: Shopping for loans

You wouldn't buy a car, furniture, or appliances without shopping around, would you? So you shouldn't sign up for a 30-year loan without doing your research.The Fair Isaac Corporation, or FICO, allows people to rate-shop for a mortgage without repeatedly "dinging" their credit scores. However, do all of your shopping within a 14-day window for credit bureaus to ignore subsequent "dings" every time you pull your credit.

Step 2: Get a pre-qualification letter

Most sellers require your pre-qualification letter before they'll even consider your offer --this step is quick and easy. Ask the lenders you spoke to during your mortgage shopping for a pre-qualification letter. These are relatively easy to get and they give a rough, unverified estimate of the loan size you may qualify for. Most lenders will give you a pre-qualification based on your verbal self-reporting of your income, assets, debts, and down payment size.

Step 3: Get pre-approval

The pre-approval stage is when lenders verify everything you've told them. You'll need to supply proof of income, proof of assets, proof of employment, records of any debts you hold, and of course identification documents and a credit report. Depending on your situation the process can take anywhere from weeks to months. Once you're pre-approved, you'll receive a conditional letter stating the exact amount of loan for which you're approved.

Step 4: Final loan approval

Armed with your pre-approval letter, you make an offer on your dream home and it's accepted. Next, you'll need the lender to conduct an appraisal. An appraisal is official verification that you're buying the home at a reasonable market value. Scheduling a time for a licensed appraiser to visit the property is frequently the longest part, and may take up to two weeks. Once the appraiser makes a home visit, the approval (or rejection) comes through within a day or two.

Now that you've passed the appraisal process, you're ready to close on this loan -- and a house.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to a broker at 575-770-3306 we are here to serve and welcome you to our growing community.

6th Annual Gravity Games At The Angel Fire Resort! Starting Friday September 4th - Sunday September 6th

Angel Fire Bike Park's 6th Annual Gravity Games celebrates mountain biking with fun competitions, great prizes, and tons of gravity! The games are open to all ages. So grab your gear and head to the beautiful Moreno Valley and the Angel Fire Resort!

Friday, September 4th at 7:00 p.m. -Movie in Garden Court [Free]

Saturday, September 5th from 9:00 a.m. – 1:00 p.m.- Photo Scavenger Hunt

– Pick up your instructions at the tent next to the Chile Express

2:00 p.m. Chainless Ziggy Race – Meet at the summit at 1:45 to race.

4:00 p.m. Whip-Off Contest – Meet at the last jump on Candyland at 3:45 to whip it good!

5:00 p.m. Long Jump – Meet above the Magic Carpet behind the Bike Shop

Then at 6:30 p.m. Bike Joust – Meet above the Magic Carpet behind the Bike Shop

Awards to follow the Bike Joust

Sunday, September 6th at 11:00 a.m. -Downhill Bike Train on Boulder Dash

– Meet at Summit at 10:45 a.m. so you don't miss the train!

3:00 p.m. Local DH Race – Upper Chillin' ? Fo' Sho' ? Lower Supreme [Ends at Tower 18]

Meet at the summit at 2:45 to race.

– $10 Race Entry Fee to participate (100% CASH PAYOUT!)

– Register at the Ticket Office from 1:00-2:30 p.m. on Sunday, September 6th, 2015.

Prizes awarded for all Gravity Games events on Saturday!

Angel Fire, NM is the place to be for all your weekend family getaways, with fresh mountain air, amazing views and fun for the whole family!

Staying for the weekend might encourage you to stay forever. If that"s the case, let New Mexico Mountain Properties be your one stop for that perfect piece of property! Our elegant Angel Fire homes for sale might spark your interest or our majestic Angel Fire land for sale might tickle your fancy! Plus for all you hikers and bikers out there, our Angel Fire condos for sale will put you right in the middle of the action, so give us a call at 575-377-2626 or 575-770-3306. We are here to help you make all your dreams of owning Angel Fire real estate come true!!

Celebrate The 4th Of July In The Enchanted Circle

If you are looking for festive fun look to the Enchanted Circle, with parades, vendors, family activities, amazing firework displays and much more. The Enchanted Circle offers the perfect place to gather the entire family for true mountain amazement and wonder.

Here is a list of activities and places throughout the Enchanted Circle:

Arroyo Seco – Starting at 12 pm , the annual parade which is said to be the quirkiest of the area with unexpected floats, unusual costumes and humorous manner that please the crowd. Parking is limited, so come early! Festivities run from 10 am until 4 pm along the main thoroughfare, Hwy 150.

Eagle Nest –Parade begins at 2 pm. There will be loads to do here going from 11am-5pm with, activities, vendors, a fabulous BBQ lunch at the Volunteer Fire Department, and the beautiful fireworks over the lake after dark (about 9:30 pm) give the lake effect illusion of double fireworks. Don't miss out! Call (575) 377-2420 for more information.

Red River – The Annual 4th of July Main Street Parade is a time-honored tradition in Red River. The parade begins at 10:00 a.m. and goes westward down Main Street, enjoy an AWESOME live performance by a regional band in Brandenburg Park, food, cooling drinks, and good old fashioned family fun! For more information call 877-754-1708.

Taos Ski Valley – 'TSV' as it's known to the locals, offers a parade, a rubber duck race, fun games and live music. The rubber ducky race starts at 2 p.m. with the parade, music and other events to follow. It's all free. Call 800-517-9816.

Taos - While it leaves the parades to other nearby communities, Taos Fire Department does however host an hour-long fireworks display at the Salazar Road Extension. This prime location allows the show to be seen throughout the area. Fireworks launch once the sky is fully dark, usually around 9:15 pm.

While enjoying all the 4th of July fun in the Enchanted Circle you may just want to stay here forever or perhaps a vacation home will suit you best. If so, choose New Mexico Mountain Properties for all your Angel Fire or Taos Real Estate needs. With locations in Angel Fire and Taos we have the Enchanted Circle covered with our exceptional mountain homes for sale in Angel Fire and authentic adobe homes for sale in Taos as well as scenic land for sale in Taos , Angel Fire, and the entire Enchanted Circle!. For those who want seclusion and off grid living, our Earthships for sale in Taos might entice you. Or, our condos for sale in Angel Fire and the Taos Ski Valley might be your choice. Whatever you are looking for, our dedicated agents go that extra mile to assist you in making your dream a reality Call us at 575-377-2626 in Angel Fire, 575-758-5852 in Taos, or speak directly to an agent at 575-770-3306. We are here to serve and welcome you.

Balloons Over Angel Fire

Balloons over Angel Fire in this beautiful summer event. Early every morning from June 19th -21st look to the Angel Fire skies for a glorious array of color in the skies. This annual event is one to see. So venture down to Angel Fire and enjoy cool crisp mountain air, activities, and more, and watch the sky fill with color and wonder!

Friday – June 19, 2015

7 AM-9 AM Balloon Mass Ascension at Angel Fire Resort Balloon Launch Field

7 AM-9 AM Balloon Tethers at local businesses

9 AM-4 PM Angel Fire Resort Chairlift open

9 AM-5 PM Chile Challenge Pro-GRT Mountain Bike Race

10 AM-1 PM Moreno Valley Farmer's Market at Golden Eagle RV Park, Eagle Nest

10 AM-6 PM Red River Art & Wine Festival at Brandenburg Park, Red River

Saturday – June 20, 2015

7 AM-9 AM Balloon Mass Ascension at Angel Fire Resort Balloon Launch Field

8 AM-12 PM Holy Angels Benefit Golf Tournament

9 AM-5 PM Chile Challenge Pro-GRT Mountain Bike Race

9 AM-5 PM Angel Fire Resort Chairlift open

10 AM-6 PM Red River Art & Wine Festival at Brandenburg Park, Red River

1 PM-6 PM 3rd Annual Bear Benefit Rib Cook Off at Enchanted Eagle Park, Eagle Nest

1:30 PM-5 PM Nashville to New Mexico concert at Eagle Nest Lake State Park

2 PM-3 PM "Rapunzel" presentation by Missoula Children's Theater, Eagle Nest

5 PM-7 PM 1 Night 2 Unite Concert, Balloon Glow Field

8 PM-9 PM Balloon Glow at Balloon Glow Field ABG Balloon After-Glow Party - Village Center with live music and specials

Sunday – June 21, 2015

7 AM-9 AM Balloon Mass Ascension at Angel Fire Resort Balloon Field

9AM-4 PM Angel Fire Resort Chairlift open

9 AM-5 PM Chile Challenge Pro-GRT Mountain Bike Race

11 AM-4 PM Red River Art & Wine Festival at Brandenburg Park, Red River

While Enjoying the Angel Fire Balloon Fest, you might just choose to check out Angel Fire real estate so that you can own a piece of this enchanted area for yourself! If you do, allow New Mexico Mountain Properties to assist you.

We have scenic mountain land for sale in Angel Fire as well as private getaway Angel Fire homes for sale. If you would like to be where the action is, our Angel Fire condos for sale might suit you best.

Whatever you are looking for, our dedicated staff will help you find the perfect piece of angel Fire property. Call us at 575-377-2626 or 575-770-3306.We are here to serve and welcome you to our colorful valley town...

6 Ways To Quickly Pay Down Your Mortgage

Taking out a loan in your 20's or 30's and paying it off in your 50's or 60's can seem stressful and you get a nauseating feeling in your stomach when looking at your mortgage statement and seeing those dreaded lines: "360 payments" and "Payoff Date: 2044." But there is hope, and you don't have to be stuck with a 30-year schedule.

Here are six ways you can speed up your repayment clock:

1. Refinance into a 15-year or 20-year loan

Although a 30-year mortgage is what most people consider, most financial companies offer you the option of taking out a 15- or 20-year loan instead. These loans are paid off faster,and applied to principal reduction, rather than interest. With a 15-year loan you will face a larger payment but contrary to what others say, it is not double of a 30 year loan. Each month, you will divert a larger sum of your payment toward your principal and interest payments. The total interest paid over the life of the loan will drop since you will reduce principal faster, and 15- and 20-year loans are usually at a lower interest rate.

2. Make payments as if you've refinanced

Should you refinance or simply make extra payments toward your original loan? Refinancing from a 30 into a 15-year loan does have it's drawbacks. First, you lose out on flexibility. If an emergency arises you might not be able to pay the higher payments. Second, you will have to pay another round of closing costs, which adds up to a few thousand dollars. Which could take you a lot longer to reach the break-even point. If you are close to the end of your mortgage term it might not be wise to refinance, If you are concerned about the two drawbacks of refinancing, just make enough extra payments to pay off the rest of the loan instead.

3. Refinance into a 30-year with a lower interest rate:

If you took your mortgage out before the recession, when interest rates were around 5–6%, now would be a good time to reduce that rate. If you have good strong credit and a low debt-to-income ratio, check into about refinancing into a 30-year loan at a lower interest rate. Once you refinance, your monthly payments will go down instead of going up. This will save you interest over the life of your loan, but it will not speed up your payoff date... it will actually make it longer.

4. Find cheaper homeowner's insurance

The lower your homeowner's insurance premiums is, the less you will pay each month. Be smart look around at other insurance companies and ask about bundle pricing and take advantage of a lower rate. Request a higher deductible. If you are able to lower your homeowner's insurance premium, your monthly mortgage payment will drop. Keep making the same payment, so that you can put the difference toward speeding up your payoff date.

5. Make biweekly payments:

Instead a one lump sum mortgage payment each month, make a biweekly payment instead. How will this help speed up the process? Well, since there are 26 biweekly pay periods each year, you will actually make one extra month's payment every year without knowing or feeling it.

6. Downsize or monetize:

You can always downsize into a cheaper home if you want to be free of your mortgage. Sell your home and use that equity to make a large payment on a new more efficient home. Or you can monetize your existing home. Add an apartment to your home to gain rent. You can use this rental income to pay down the mortgage. Yes, you might face challenges with renters but a fully paid off mortgage might just be worth it.

New Mexico Mountain Properties in Taos and Angel Fire, NM will gladly assist you in locating that perfect piece of Taso or Angel Fire Real Estate . We have scenic mountain land for sale in Angel Fire and Taos, or perhaps our off-the grid homes for sale in Taos might give you that serenity you've always wanted. If it's excitement and smaller living your looking for try our condos for sale in Angel Fire or Taos Ski Valley. Whatever your looking for, we at New Mexico Mountain Properties are here to help to find your dream. Our knowledgeable brokers go that extra mile so you don't have to. Give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos or 575-770-3306 and speak directly to a Broker. We are here to serve and welcome you to this breathtaking mountain area.

Is An FHA Loan Right For You?

FHA loans can be appealing, but beware of these potential pitfalls that can cost you over time.

Federal Housing Established loans or FHA loans, are mortgages with relaxed restrictions, they sometimes offer borrowers a better deal compared to conventional loans, but before deciding it's important for you to know the pros and cons, to understand how this type of loan works.

Here are 4 things to look at..

1) Advantages Of FHA Loans:

FHA loans make homeownership more accessible because you can qualify for a down payment of just 3.5%, even with a low credit score. You can also use money that was gifted to you for the down payment. This is a great way for young and first-time homeowners who have struggled to try and get the 2% down payment all at once or for those who have had credit problems in the past.

2) Understanding How FHA Loans Work:

FHA loans can get costly due to the borrower needing to pay a premium which is insured by the Federal Housing Administration, which means if you default on your payment the FHA promises to pay back the bank that made the loan so the lenders take no risk. That's why FHA loans have more relaxed restrictions than conventional lenders do.

3) Potential Pitfalls:

Understanding the downside to FHA loans is very important. For example, the fees can cost you with an FHA loan which come from the underlying insurance fees. The current fee costs you 1.75% with an ongoing fee of 0.85%. So because of that permanent insurance payment, it makes FHA loans far less attractive to the buyer.

4) Is An FHA Loan Right For You:

Anyone with a credit score of less than 600 would be better served with an FHA loan due to the fact that most conventional lenders are looking for scores above 700 to even consider you. Also. those in the buyers market can benefit as well because it allows you to pay up to 6% of closing costs compared to the 3% other lenders allow, and to anyone who a down payment of less than 5%, regardless of your credit history. Do keep in mind the pitfalls though with having to maintain the insurance fees for many years that could end-up costing you a lot in the end.

So if your looking into FHA loans these tips might help with understanding what your pros and cons are..

If your looking to purchase or sell a home, come to New Mexico Mountain Properties and see our vast selection of homes for sale in Angel Fire as well as our Taos homes for sale. If it's land you are looking for, our mountain view land for sale in Angel Fire and Taos might just spark your interest. Take a look at our condos for sale in the Taos Ski Valley and Angel Fire Resort, some just steps to the slopes. Give us a call at 575-377-2626 in Angel Fire, 575-758-5852 in Taos or 575-770-3306 and speak directly to a broker. Our dedicated and energetic staff is here to serve and welcome you to our beautiful area.

Association of Angel Fire Property Owners

Annual Welcome Home Weekend

Friday June 5th through Sunday June 7th

The AAFPO weekend in Angel Fire, NM will be full of activities to welcome home property owners in Angel Fire. The AAFPO, the Association , the Resort, and many of the Angel Fire businesses will be hosting parties for you and your family to enjoy. Along with family entertainment and discounts to local businesses whenever you show your membership card. So don't miss out on this fun filled weekend!

Friday night enjoy the welcome dinner and live music located at the Country Club from 5:00-7:00 PM.

Saturday, starting at 10 am will be a free putting clinic at the Pro Shop. Noon - 1:30 pm attend Taste of Angel Fire which includes culinary creations from Angel Fire restaurants, art exhibits, and info, followed by the annual AAFPO membership meeting from 2:00-3:00 pm, Hear up coming plans, cast your vote, and get involved! Saturday night enjoy a Lasagna Dinner sponsored by Rotary at the Community Center from 6:00pm to 9:00 pm.

Sunday from noon-2:00 is Family Fun day at the base of the mountain, enjoy a Picnic lunch, free horse-drawn wagon rides, and lots more activities for the entire family. So grab your family and have some fun!

While living in this beautiful valley you might choose to buy another Angel Fire home or Angel Fire land or even convince a friend to move here. If you do, choose New Mexico Mountain Properties for all your Angel Fire Real Estate needs. Call 575-377-2626 or 575-770-3306 and speak to an agent directly about our wonderful Angel Fire homes for sale as well as our spectacular Angel Fire mountain land for sale Our Angel Fire ranches can offer you a peaceful hideaway from the everyday . For you skiers and boarders who want to be close to the slopes, our Angel Fire condos for sale might just be the ticket. Whatever your looking for, our agents will go above and beyond to find that perfect area that fits your wants and needs. So let us serve and welcome you to the majestic Moreno Valley.

Rally In The Valley

Memorial Day Weekend

Starting Thurs. May 21st - Mon. May 25th bikers from all over gather in Red River, NM for the annual Rally in the Valley. Around 20,000 biker and non-bikers gather together in this small valley community to honor and celebrate our Veterans.

There will be lots going on from vendors, blood drives, food, activities and so much more all starting at noon on Thurs. May 21st. Starting first thing in the morning On Mon. May 25th "Memorial Day" everyone gets on their bikes and in their vehicles and heads to the Vietnam Veterans Memorial and the David Westphall Veterans' Foundation gift shop at the Memorial in Angel Fire, NM to spend the day honoring our fallen heroes.

So if your wondering what to do with your weekend head on down to the valley and join in the Memorial Day celebrations!

While enjoying the Memorial Day celebrations in our enchanted area, you might enjoy the beauty so much you choose to stay forever! if you do, allow New Mexico Mountain Properties assist you in finding that perfect piece of Angel Fire, red River, or Taos Real Estate. Located at the blinking light just past the Vietnam Veteran's Memorial in Angel Fire, NM we go that extra mile to help you find your dream, from our lush Angel Fire land for sale to our beautiful hideaway homes for sale in Angel Fire. We also have our walk to the slopes condos for sale in Angel Fire as well as Angel Fire ranches for sale if you are looking for larger acreage. You are sure to find something that will fulfill your requirements. Give us a call at 575-377-2626 or 575-770-3306 and speak to an agent directly. So let us serve and welcome you to the valley..

Thank You! To all of our active, inactive, and our fallen men and women who have served, and the ones still serving and protecting our country. Without you there would be no freedom.

5 Things You Didn't Know Could Ruin Your Credit!

Watch out for these harmful pitfalls that could ruin your credit and keep you from your new home.

When it comes to buying a home, car, boat and more, your credit score matters. By now you know there's no getting around the financial institutions that weigh on your credit score. But you may not know why your credit score is on a downward spiral, especially when you're trying to play it by the book and maintain flawless credit. So what's really going on that poorly affects your credit? Have you ever checked your credit score only to find yourself shocked and dismayed by the result? If so your credit might be affected by one of these sneaky pitfalls.

1. Generating hard inquiries:

When you start collecting quotes from various lenders, you're being financially savvy. Shopping around and choosing the right lender for a mortgage or a car loan will help you find the best rate possible -- and that translates into savings of much more money throughout the span of your loan. But there's a catch. When you receive a quote on interest rates, lenders look hard at your credit report. They get multiple inquiries within a 14-day span and are counted together. If you stretch out these inquiries over a longer period, each shows up individually. And too many inquiries can really hurt your credit.

2. Skipping out on the little things:

If you think an old library fine from 15 years ago can't hurt you today? It could, if the library system turns that account over to a collection agency or marks it as "delinquent." Unpaid bills -- including utility bills, medical bills and so on, that you thought you paid, -- can cause your credit score to plummet quickly if they're unresolved. In most cases, you can easy fix these matters by settling the outstanding debt you owe. So it is always to a good idea to pull up your free credit report and make sure nothing is weighing you down . Which leads us to another cause to ruin your credit

3. Incorrect information:

You need to pull your credit report regularly. Errors do occur and businesses do make mistakes. If your credit report has incorrect information about your financial records, this could weight heavy on your credit score. If you pull your report and find an error, call the credit bureau that issued the report right away. You'll want to file a claim and start the process of correcting any incorrect data. It can be long and stressful to correct these errors, but in the end it's worth the effort.

4. Utilizing your available credit a little too much:

If you use your credit cards for everyday spending and you pay off your balance in full and on time, you may be wondering why your credit score is still falling. It might be that you're only charging what's affordable and not carrying a balance month to month. What matters is how much credit you have and how much credit you're using. For example, if you have a $500 line of credit and you charge $499 each month, you'll earn a black mark on your credit score even though you pay off all $499. Maintaining a high credit-utilization ratio will hurt your score. Always keep your balances low on all lines of credit.

5. Not using credit:

Perhaps the easiest way to ruin your credit, is not using it at all. If you're afraid of messing up and getting into a financial disaster, or if your scared of the idea of using credit cards, you may negatively impact your score. By not using credit, you don't create a history that shows you're a responsible credit user who can manage your balances and payments. Inactive accounts may even closed over time, and that too can red flag your score. Whether you feel it's fair or not, the fact remains that if you want to purchase a home or car you need a good credit score. If you want to secure the best real estate deals available on the market,always watch out for these unseen score pitfalls that could ruin your credit.

When looking for the best in Real Estate, choose New Mexico Mountain Properties and let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos you are sure to find that perfect home . Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream, or live off the land in our stunning Earthship homes for sale in Taos. How about a scenic condo for sale in Angel Fire that puts you close to the slopes? Whatever your fancy, we are here to assist. Call us at 575-377-2626 in Angel Fire 575-758-5852 in Taos or speak directly to an broker at 575-770-3306 we are here to serve and welcome you to our growing community.

Good News For Angel Fire Property Owners!

The city of Angel Fire has big news for their property and homeowners! The ISO or Fire Suppression Rating has dropped from seven to five this year, due to the updating and improving of the Village Water and Fire Departments systems.

So home and property owners whose insurance rates are based on ISO rating can save around 10 - 15 percent. You can't beat that!!! Angel Fire was given the ISO rating of 7 back in 2007, and Since then the small village town has has come together and added a new Fire Station south of town, a one-million gallon water tank, and more.

Now is a great time to get that dream home or property that you have always wanted and with the help of New Mexico Mountain Properties, your are sure to get exactly what your looking for!

While enjoying all that Angel Fire has to offer, stop by New Mexico Mountain Properties located at the blinking light in Angel Fire NM, or call us at 575-377-2626 or 575-770-3306. We can help you with all of your Angel Fire Real Estate needs. You will find beautiful mountain land for sale in Angel Fire, Our homes for sale in Angel Fire, capture the majestic mountain views. We also have condos for sale in Angel Fire. Come down and see all the beauty we have to offer. We are here to serve and welcome you.