You need to choose carefully when it comes to mortgage brokers in Bloomfield Hills, Michigan. At Gem Home Loans, we pride ourselves on the one-on-one attention we provide to all of our clients. You won’t find another company that prioritizes personal attention like we do. Here’s some information on how to find the right mortgage broker for your needs. We believe that when you’re done looking around, you’ll turn to us.
How to Find the Right Mortgage Broker
It’s easy to go with the broker that will provide you with the lowest fees and rates, of course. At Gem Home Loans, we do everything we can to make sure our clients pay the least amount of money possible. However, a good mortgage broker will do much more. You’ll also want to find someone who will always be transparent, and will always work to make you as satisfied as possible.
One of the best ways to find a great broker is to ask questions. This is an incredibly important decision, so don’t be afraid to find out as much as you can from each broker you’re considering. These are just some of the questions you may want to consider asking.
- What does your application process entail? – Not all mortgage brokers are as forthcoming as they should be regarding how they manage applications. You’ll want to know, for example, how long it typically takes to close, and how much you’ll be paying in lender and third-party fees. Also, you’ll want to find out what you’ll need in order to qualify for a loan, such as your debt-to-income ratio, your credit score and more.
- How much experience do you have? – You want to know that the person you’ll be working with has a lot of knowledge and experience regarding the mortgage process. This will be especially important if you’re a first-time homebuyer. The underwriting process can be somewhat complex, so your broker should be able to carefully explain how it works, and also explain all of your options.
- Are you accessible? – Buying a home should be an exciting experience, not one filled with stress. The last thing you’ll want to deal with will be a broker who disappears when you need them the most. Find out if the person you first contact will be the one you’ll be talking to throughout the process. Are they good at communicating through your preferred method, whether it’s in person, over the phone, or through e-mails or texts?
- What’s the best rate I can get? – The main purpose of a broker is to get you the absolute best deal possible on your new home. Be as specific as possible when you ask about rates. Tell the broker your credit score, the type of mortgage loan you want, and the amount of money you have for a down payment Even though rates can fluctuate on a daily basis, the more information you can provide up front, the better job your broker can do of negotiating the best rate.
Gem Home Loans is Here for You
The mortgage brokers in Bloomfield Hills, Michigan with Gem Home Loans will gladly answer these and any other questions you may have. If you’d like to get in touch, you can contact us online or give us a call at (248) 780-1030.