Gem Home Loans belongs on any list of the best mortgage refinance companies in Michigan. You might think that’s a boast, but it’s not meant to be one. We simply believe that there are no other mortgage companies better than us. Our customer service is unmatched, as is our commitment to finding clients the very best loans possible, at the very best terms. We have no problem sitting down with clients and thoroughly spelling out all of their options – not all mortgage companies can honestly say they do the same thing.
When people work with Gem Home Loans, they can always depend on us to give them an honest answer. If you are thinking of refinancing, we’ll be completely upfront when it comes to either recommending you pursue this option or not. Refinancing is a great way of taking money out of a home or lowering a monthly mortgage payment. But it’s not for everyone.
What is refinancing? Basically, it means you’ll be taking out a new home loan. Most homeowners refinance on the amount of money they still have remaining on their mortgage. Refinancing loans typically have better terms than original loans. However, things can get fairly difficult if you’re refinancing for the first time, or if you don’t have a great credit score.
You’ll need to really think long and hard about whether or not refinancing will be right for you. There could be a chance you’ll get better terms, but there are a lot of factors that will have a major impact on whether or not that’s the case. Not only will your credit score be a factor, but so will the amount of the original loan that has been paid – in other words, the amount of equity you have in your home.
Like any kind of loan program, a refinance has its advantages and disadvantages, including the following.
If you want to work with one of the best mortgage refinance companies in Michigan, call Gem Home Loans at (248) 780-1030 or contact us online.