How can Gem Home Loans claim to be the best mortgage company in Farmington Hills, Michigan? You can ask one of the thousands of people who we’ve worked with over the years. They’ll tell you we provided a level of service they never thought was possible. We’re staffed with experts, like a lot of other mortgage companies. But our experts actually care about clients – they don’t just look at them as stepping-stones to huge profits.

Different Ways We Can Help

Best Mortgage Company Farmington Hills, MichiganYou might think you’d only want to talk to a mortgage professional if you were planning to purchase a new home and needed a loan. But you can work with us for other reasons as well. You might be looking at a kitchen or bathroom renovation. You might be planning to add a completely new room. You might even be thinking of building a home from scratch on a beautiful piece of land.

Whatever the case may be, you can turn to Gem Home Loans for a construction loan. Just like all other loan programs, there are complexities involved. Actually, construction loans are even more complex. But at Gem Home Loans, we’ll take all of that away, making sure to clearly explain all of your options. It’s important to know upfront, however, that a construction loan will typically take more time. Once you’re approved, though, you’ll know it was worth the extra effort.

Here are a few types of construction loans you may be able to obtain.

  • Construction-only – A construction-only loan works just like it sounds. You take out the loan before you start building the home, and then you either pay the loan off or refinance it once construction is done. You might have to qualify after each phase of construction is finished. There’s also a chance you’ll need to pay closing costs more than one time.
  • Home renovations – Have you wanted a new bathroom for years? Are you tired of looking at the same kitchen day after day? If that’s the case, then you might want to think about pursuing a home improvement loan. In most instances, borrowers will get money at different phases of the renovation process.
  • Construction-to-permanent – You might be able to obtain a loan that will combine with a regular mortgage loan once the house is built. You’ll probably pay different amounts of interest, depending on how the prime lending rate fluctuates.

It can be hard to find mortgage companies that offer construction loans. The interest rate is typically more than that of a conventional loan. But for a lot of people, it’s the perfect option.


As you already know, it can be harder to obtain a construction loan than the typically type of mortgage loan. For example, you might have to provide proof that the house will be built if you try to get a construction-only loan. You’ll probably have to provide more documentation as well. In addition, you’ll probably need a higher credit score, and be able to pay more of a down payment, than you would with a conventional loan.

One of the reasons why Gem Home Loans is the best mortgage company in Farmington Hills, Michigan is that we make the whole process easy. Find out more by calling (248) 780-1030 or using our online contact form.