If you don’t have a lot of experience working with mortgage companies in Dearborn, Michigan, the professionals with Gem Home Loans has some advice – stop your search now and turn to us. Our experts won’t try to influence you to take a particular loan because it makes us a hefty commission.
Sure, we’re in business to make money. But we’re not so laser-focused on profits that we put clients in a poor financial position. We take the time to show you all of your options and then make a recommendation based on what’s best for you.
You might be wondering if it would be worth your while to pursue a government-backed loan, such as an FHA (Federal Housing Administration) loan. The FHA and HUD (the Department of Housing and Urban Development) set the regulations and requirements that determine who qualifies for FHA loans.
If you’re purchasing a home for the first time or don’t have the money for a large down payment, you should seriously consider this kind of loan program. These are just some of the many types of FHA home loans available.
Whatever type of FHA loan you feel is best for you, the professionals with Gem Home Loans will do everything we can to help you get it. You can get into a new home with as little as a 3.5 percent down payment and a credit score as low as 580. You’ll likely need to put 10 percent down if yours is lower than that.
However, you also need to know that FHA loans aren’t for homes that are below 203(k) loan standards. If the house needs a great deal of work to be habitable, then you’ll be better off trying to get something else.
Please don’t hesitate to contact Gem Home Loans – the leader among mortgage companies in Dearborn, Michigan. We’ll show you why we’re different from any other mortgage broker. Contact us online or call us at (248) 780-0601.