NMLS: 174457
Santa Fe Mortgage Advisor — Experience, Strategy, Clarity
WELCOME !
My name is Marita DeVargas. I am a loan officer with over 27 years of experience in the mortgage industry and over 1000 clients. I help buyers, homeowners, and Realtors navigate complex mortgage decisions across Santa Fe and Northern New Mexico. My personal approach is focused on thoughtful loan strategy, clear communication, and steady guidance in changing markets.
Not Just A Mortgage ~ The Right Mortgage
Anyone can provide mortgage answers straight from a mortgage training manual, but successful outcomes require more than quick responses. In markets like Santa Fe, Albuquerque and Northern New Mexico, where transactions can be complex and timing matters, experience and approach make the difference. Marita provides solutions, ideas and a logical approach.
Clarity
Clarity matters more than promises when it comes to mortgage financing. The process can involve detailed documentation, changing conditions, and moments that feel uncertain or even frustrating. An experienced loan consultant understands that setting realistic expectations from the beginning is far more valuable than offering easy answers that don’t hold up later. Marita DeVargas focuses on providing clear, honest guidance at every step, helping clients understand not just what to expect, but why each part of the process matters. Her goal is to remove confusion, reduce surprises, and ensure that buyers and homeowners move forward with confidence — even when the process requires patience.
Experience
Guidance in mortgage lending is less about reassurance and more about clarity at the right moments. The process involves multiple moving parts — documentation, underwriting conditions, timing, and coordination with other parties — and each step has consequences if handled incorrectly or too late. Marita’s approach is to provide direct, timely input on what matters next, what can wait, and where potential issues may arise. This keeps decisions grounded, reduces unnecessary back-and-forth, and helps ensure the loan progresses in a controlled, predictable way from application through closing.
And Always - Measurable Results
Measurable results in mortgage lending are reflected in execution — clean approvals, timelines that hold, and transactions that close without last-minute disruption. This requires more than qualification; it depends on how well the loan is structured, how accurately documentation aligns with underwriting expectations, and how consistently communication is maintained throughout the process. Marita’s focus is on outcomes that can be seen and tracked — files that move efficiently through underwriting, conditions that are addressed early, and closings that proceed as planned without avoidable delays or renegotiation.
Marita’s 12 Steps To Mortgage Success
A mortgage has to always go through its natural progress and this is where a professional like Marita keeps you on track and helps reduce the natural stress that the mortgage process can at times bring along with it. It is important to have clear and concise expectations right out of the gate.
Marita’s Areas of Mortgage Expertise
Large & Complex Loan Amounts
Purchases over one million dollars requiring strict underwriting and impeccable knowledge of all regulations and possible obstacles.
Equity Conversion Loans
Previously known as Reverse Mortgages, this type of loan is now completely restructured and provides great benefits under the right conditions.
Bank Statement Loans
A mortgage designed for self-employed borrowers or people with non-traditional income. Instead of using W2’s or tax returns, the lender looks at bank statements to estimate your income based on deposits and cash flow.
First Time Home Buyer Loans
First-time home buyer transactions require more than basic qualification — they require preparation, clarity, and realistic expectations from the outset.
Everything Begins With A Conversation
Give Marita a call for a free consultation and determine right away, without any obligation how to begin the process.
CELL: 505-660-5044 | EMAIL: mdevargas@loandepot.com | Apply: LOAN DEPOT
VA Loans
VA loans are Marita’s expertise and she helps a lot of our amazing veterans maneuver through the maze of rules and requirements they present in order to be approved.
Loan Refinancing Done Right
Marita’s job doesn’t end at the closing table. She remains actively engaged by continuously monitoring market conditions for opportunities to improve her clients mortgage positioning.
Annuitized Assets Loan
For borrowers who may not have traditional income but hold substantial liquid or investment assets. Instead of relying on employment income, the lender calculates a qualifying income by “annuitizing” those assets.
Your Mortgage Questions, Answered.
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Not necessarily - a pre approval is basically a letter of initial confidence that still has to undergo underwriting, documentation and approval. Funds sources, unexpected surprises, appraisals, inspections can all delay getting to the title company for closing. But I will guide you all the way and we will get there together.
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Offers that are significantly below current market rates are usually not as straightforward as they appear.
In many cases, those rates are tied to very specific conditions—such as large down payments, rate buy-downs, limited loan types, or unusually strong borrower profiles. There may also be additional costs or requirements that aren’t clear upfront.
A quoted rate is only meaningful when it reflects the full structure of the loan. What matters most is how the loan performs overall—cost, stability, and ability to close without issues.
If you’ve received an offer like this, I’m happy to review it with you and help you understand how it actually compares in real terms.
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Mortgage insurance is a type of protection for the lender—not the borrower—when a loan has a smaller down payment.
If you’re putting less than 20% down on a conventional loan, or using certain loan programs like FHA, mortgage insurance is typically required. It helps offset the lender’s risk in case of default.
While it does add to your monthly payment, mortgage insurance also makes it possible to purchase a home sooner without waiting to save a full 20% down.
In some cases, it can be removed over time as equity increases, depending on the loan type and structure.
The key is understanding how it fits into the overall loan strategy—cost, timing, and long-term goals.
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Most home loans close in about 3 to 5 weeks, but the exact timing depends on several factors.
The timeline is influenced by the type of loan, how quickly documents are provided, the appraisal process, and how smoothly the file moves through underwriting. In Santa Fe, property type and appraisal timing can sometimes affect the schedule as well.
A well-prepared file and clear communication can keep things on track, but it’s important to set realistic expectations rather than assume a fixed timeline.
At the start of the process, I’ll give you a more specific estimate based on your situation and the property involved.
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Yes, many loan programs allow a co-borrower, and in some cases it can help strengthen the overall application.
A co-borrower is someone who applies for the loan with you and shares responsibility for repayment. Their income, assets, and credit may be used to help qualify, which can be useful if you’re looking to increase purchasing power or meet certain guidelines.
The structure matters, though. Not all co-borrower situations are the same, and factors like occupancy, relationship, and financial profile can affect how the loan is evaluated.
It’s important to set it up correctly from the beginning so the loan performs smoothly through underwriting and closing.
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In most cases, second homes do not have the exact same terms as a primary residence.
Lenders typically view second homes as higher risk than owner-occupied properties, so the requirements can be stricter. This often means a larger down payment, stronger credit profile, and sometimes a slightly higher interest rate.
There are also specific guidelines around how the property is used—it must generally be for personal use and not treated like an investment or rental property.
That said, well-qualified borrowers can still secure favorable terms. The key is structuring the loan correctly based on how the property will be used and how it fits into your overall financial picture.
You Need A Trusted Mortgage Lender in Santa Fe and Northern New Mexico On Your Side
Marita DeVargas is a mortgage advisor known for her deep local knowledge, calm problem-solving, and long-standing relationships with Santa Fe and Albuquerque Realtors. She is licensed in New Mexico, Colorado, California, and Hawaii, and provides service in both English and Spanish.
As Featured In Forbes
Selected to be featured in Barker Realty’s Forbes magazine publication, a distinction that reflects her reputation within the Santa Fe real estate community. Her inclusion was by invitation, recognizing her experience, consistency, and the level of trust she has earned among top-tier Realtors and clients. Being part of this high-end publication underscores her standing as a knowledgeable and reliable mortgage professional in a competitive and discerning market.
What Clients Say About Me
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“Marita DeVargas is an excellent lender and always takes great care of our clients. She gets the deal done and she gets it done on time."
– Amanda Irwin
Barker Realty - Veritas Team and Santa Fe’s Top Realtor
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“LoanDepot has the most professional, friendly staff. They made buying a home super easy. Thank you for taking such great care of us as we closed on our VA Loan!”
– Valene Lee
Meet Marita DeVargas
Marita DeVargas has spent more than two decades helping clients make confident mortgage decisions.
Recognized for her professionalism and market insight, she works closely with buyers and Realtors throughout Santa Fe, Albuquerque and Northern New Mexico to structure loans that support successful closings.
Marita is also licensed in the states of Hawaii, Colorado, Nevada and California.
Times Are Changing - Or Are They?
Despite all the hype, tools like ChatGPT, Google, and other AI systems are still in a surprisingly early stage of development. There’s a growing narrative that AI is on the verge of taking over everything, but the reality is much more grounded—they still make frequent mistakes, misinterpret context, and sometimes confidently deliver incorrect or incomplete information. They can process data quickly, but they don’t truly understand it the way people do.
More importantly, AI lacks what really matters in many situations: genuine human connection. It can’t read the room, pick up on subtle emotional cues, or build trust through lived experience. That’s where someone like Marita stands out—her people skills, intuition, and ability to connect with others on a human level are things AI simply can’t replicate. For all its capabilities, AI is still a tool… and it’s nowhere near replacing the value of real human relationships.