At Gem Home Loans, our mortgage brokers love working with clients. We know how exciting a time buying a home in Sterling Heights, Michigan can be, and we want to make it as easy for you as possible. But we’re also well aware of how stressful the process can be. That’s why we’ll take as much off of your plate as we possibly can. We want the process of buying a home to be a happy time for you – not something that keeps you up all night due to worry.

What Makes Gem Home Loans Different?

Mortgage Brokers Sterling Heights, MichiganHave you ever obtained a mortgage through a bank? Did you feel that bank saw you as nothing but a number, and could not have cared less about making sure you knew all of your lending options? We’ve seen that type of impersonal approach time and time again – and we couldn’t stand it. That’s why Gem Home Loans was born.

We focus on our clients, not their bank accounts. Instead of dealing with cold, uncaring lenders who make it seem like you’re encroaching on their time, we love meeting clients face-to-face. We are intimately familiar with the Michigan housing market, and we work with dozens of investors in order to help our clients find the best possible loan for their specific financial needs.

Whether you’re a first-time buyer or you’re buying your fifth or sixth house, we will give you a level of customer service that you’ve probably never experienced.

How We Help Clients Find the Best Mortgage Rate

As you may or may not be aware, there are a lot of factors that go into determining what sort of interest rate you’ll be paying as part of your monthly house payment. Here are a few of the most important ones.

  • The kind of mortgage you get – There are a lot of types of mortgage loans. There are “conventional” loans, such as fixed-rate mortgages, as well as government loans backed by agencies such as the Federal Housing Authority (FHA), U.S. Department of Agriculture (USDA) and the Veterans Administration (VA). These government loans often offer much lower interest rates, and often require much less of a down payment. In many instances, they don’t require any sort of down payment at all.
  • Your credit score – The best way to get a low rate is to have a high credit score. If yours is 760 or higher, then you’re going to get a fantastic rate – and you’ll be paying much less each month. If you can boost your score before you apply for a loan, you’ll have a much better chance of getting a lower rate.
  • The down payment – If you can swing a larger down payment, that will also help reduce your interest rate. A down payment of at least 20 percent of the total sale price will really help. If you can put down more than 20 percent, your lender will look at you as an excellent credit risk. That will really drive down the amount you’ll pay in interest.

A Gem Home Loans Expert Can Tell You More

There are many other factors that go into determining your interest rate in Sterling Heights, Michigan, and the expert mortgage brokers with Gem Home Loans can go over all of them. Call (248) 780-1030 or use our online form to get in touch.