If you’ve ever put your trust in other mortgage companies in Ann Arbor Michigan, only to be disappointed, turn to the professionals with Gem Home Loans. You might have dealt with another company that was limited to one interest rate, or had to work under other types of constraints. That’s not the case with us. We’re independent, working with several different investors so that we can make the deal that is the best for your specific needs.
Getting a mortgage can be an extremely complex process, filled with uncertainty and fear. But before you can get a mortgage, you have to find a mortgage company – and that can be daunting as well. Here are a few tips to help make that process go a little bit easier.
Getting your credit score up as high as possible is probably the most important thing you do before searching for a mortgage company. If your score is too low, that sends a signal to lenders that you’re too much of a risk. Making your payments on time can help boost your score. In order to have a chance to qualify for most types of mortgages, you’ll need to have a score of no lower than 580.
Paying off high-interest debts can go a long way toward increasing your score. These include things such as outstanding loans, credit cards and more. Make sure your score is right by getting a report from the credit bureaus. By law, you’re entitled to one free copy of your report each year.
You can easily go online to see the most current mortgage rates. However, what you’ll be seeing are estimates. The different mortgage companies you’re considering will still need to check your credit report and have you fill out an application. Don’t be afraid to negotiate to get the best possible rate. If you’re not happy with what one company offers, don’t hesitate to talk to another one.
Some people get so intimidated when talking to a mortgage company that they can be afraid to get as much information as possible. As a result, they’re more prone to making the wrong choice. Talk to each mortgage company and find out how quickly they respond to any questions or concerns you may have. See what kinds of fees you’ll need to pay when it comes to closing time, like application fees, commission fees and loan origination fees.
Closely inspect any loan documents before you agree to anything. You’ll want to know the specific finance terms, who’s responsible for closing costs, what is and isn’t included with the home, and much more.
Unlike other mortgage companies in Ann Arbor Michigan, the experts at Gem Home Loans will look at you as a person, not a number. We put client satisfaction ahead of profits, and we’ve done so for a long, long time. When you work with us, we’ll do everything we can to justify the trust you’ve put in our company. Find out more about us by giving us a call at (248) 780-1030 or by using our convenient online form. We look forward to hearing from you.