There are some mortgage brokers that will only give their clients a quote involving just one mortgage interest rate from a bank. Unfortunately, many prospective homeowners in Plymouth, Michigan take that information at face value, without looking for a more affordable rate. At Gem Home Loans, we work with a lot of different financial institutions, and we shop around for the best possible rate. We do the work for you so that you can save money.

How We Do It

Mortgage Brokers Plymouth, MichiganWe have a team of skilled, experienced brokers and a wide variety of loan programs. When you work with us, we’re confident we’ll be able to find a program at a rate you can afford, and one that will help you get into the home you’ve been dreaming about for years. Since we have relationships with dozens of investors, we can negotiate on your behalf to get you the best rate.

Gem Home Loans isn’t like any mortgage company you’ve ever experienced. We’re not impersonal – in fact, we’re the very opposite of impersonal. Our brokers are passionate about helping meet our clients’ needs. We’ll work closely with you, and make sure you have a clear understanding of all your options. We’ll also be honest, taking into account factors such as your credit and income to let you know the programs for which you’ll qualify.

Once we assess your financial situation, we’ll do everything we can to help you meet the eligibility requirements of the loan programs that work best for you.

How Can You Get the Best Possible Mortgage Rate?

The first step toward buying a home, of course, is finding an affordable mortgage. The interest rate is one of the most important factors that will determine whether or not you’ll be able to pay your mortgage every month. While we’ll help you find the best rate we can find for you, there are some things you can do to make that a lot easier. Here are just a few.

  • Pay attention to your debt – Any prospective lender will want to know what type of debt load you’re carrying. A great way to reduce that load will be to avoid maxing our your credit cards. If you can keep your revolving balances below 30 percent of your card limit, that will show you’re very responsible – and you’re a good credit risk. Your debt-to-income ratio will be critically important. If you pay more than 43 percent of your yearly income toward your debt, it’s going to be very hard for you to get a mortgage.
  • Manage your credit wisely – Your credit score will be the main factor that will determine your interest rate. Always pay your bills on time, because that’s a huge component of your score. Once you get into the loan process, don’t apply for any new cards, and don’t close any of your existing accounts. Check your credit reports regularly to make sure they’re accurate.
  • Consider preapproval – A preapproval letter can really make the loan process a lot easier. It’s basically a letter showing you how much you can expect to get from a lender. Sellers of homes love to see preapproval letters, because that tells them you can get the financing you need to finish a sale.

The expert, friendly mortgage brokers with Gem Home Loans are ready to help you get through the loan process in Plymouth, Michigan. Contact us online or call (248) 780-1030 to learn more.