You obviously want to find the best mortgage company in Troy, Michigan you can. After all, you’ll be working with this company very closely over the next few weeks and months as you try to find a new home at a price that puts you in the strongest possible financial situation. At Gem Home Loans, we will go the extra mile to make sure you get into the right program, one that will be in your best interests. Here are just a few tips that will help ensure you find the right lender.
There’s a chance you’re in the market for a new home because mortgage interest rates are extremely low – and there’s nothing wrong with that. It’s smart to take advantage of those low rates. Just make sure you have a good credit score and a low ratio of debt to income. That will help you get the most advantageous rate.
Every lender you’re considering will want to look at your debt, your credit score, and also your assets. They’ll all have slightly different ideas about your eligibility for certain kinds of loan programs. You’ll probably find better rates from some lenders than others as a result. Take a close look at discount points (also known as mortgage points) as well. That could lower your rate even more.
But there’s more to choosing your lender than the rates they offer. You also need to take a close look at the fees they charge. If those fees are large enough, that could nullify any savings you’d enjoy from a low rate.
You might be looking more at the mortgage companies you’re considering, and that makes sense. The ones with the best reputations are the ones you’ll want to have on your list.
But you won’t be working with that company as a whole – you’ll be working with one person. The loan you get will only be as good as the professional who helps you get that loan. You might decide to go with a huge bank that’s been around for more than 100 years, only to get stuck with a rookie loan officer. That will be a lot different experience than working with someone who’s been in the profession for 10 years or more.
Trust is huge when it comes to working with a mortgage professional. If your gut tells you something doesn’t feel quite right, walk away before you get in too deep. If your gut says the opposite, go with your instincts. There’s a very good chance you’ll be making the right decision.
You could also talk to people you respect who may have just gone through the home loan process. Ask friends, family members or neighbors who they worked with, and if they would recommend that person. If they do, then consider working with that person yourself if possible.
We’d love to show you why Gem Home Loans is the best mortgage company in Troy, Michigan. People throughout the state have put their trust in us, and we’d like the chance to earn your trust as well. Get in touch with us at your earliest convenience by calling (248) 780-1030 or using our online contact form.