A 15 year mortgage in Rochester, Michigan could be the perfect solution if you’re planning on buying an existing house, or even if you’re planning to build a new one. But there’s also a chance that a different lending option would be better. At Gem Home Loans, we will make sure you are completely confident in your final decision. We won’t rush you into making a choice, or try to influence you into doing something you may regret later. You will always be able to count on us to look out for you and the ones you love.
As the name implies, of course, a 15 year mortgage means you’ll pay off your home in 15 years, unlike a 30 year mortgage. Since you’re paying the money in half the time frame, you’ll not have to pay interest for the other 15 years – that can save you an incredible amount of money. Also, you’ll have more equity in your home so you’ll make more of a profit if you decide to sell.
At the same time, though, you’ll have to make sure you will be able to afford the monthly payment that comes with this type of mortgage. You may be saving a lot of money in interest, but you’ll also be paying significantly more each month. You’ll have to have enough to cover the mortgage as well as your other regular expenses, and you’ll also need enough to be able to handle any emergencies that might arise.
As you can see, deciding to go with a 15 year mortgage can be downright scary for some people. There are a lot of factors that go into making this type of choice. At Gem Home Loans, we care about our clients more than we do numbers. We will work care closely with you to make sure you’re in a good position to take on the responsibilities associated with this kind of mortgage. If we don’t feel it’s a good fit for you, we’ll recommend another option.
Most people understandably assume that 15 year mortgages only apply to buying an existing home. But you can get this type of mortgage for other uses as well. Here are just a few we offer at Gem Home Loans
If you believe a 15 year mortgage in Rochester, Michigan is right for you, we’re ready to make it happen. At Gem Home Loans, we’re focused on our clients – that has always been the case, and will always be the case. We don’t work with pushy marketing entities or impersonal big-box banks. We work with our clients on a one-on-one basis and provide them with customized financial options. Learn more about us by contacting us online or calling (248) 780-1030.