If you’re looking for the right source for home financing in Rochester Hills, Michigan, Gem Home Loans serves as one of the best mortgage companies in the region. We provide assistance to ensure that your mortgage matches your financial needs, both present and future.

Mortgage Companies Rochester Hills, MichiganAt Gem Home Loans, we offer a variety of lending products and are confident that one will work for your home financing needs. We work as mortgage brokers and are partnered with dozens of investors to find you the best rates, costs, and programs.

Our specialists can help you explore your many options. Through prequalification, we can quickly assess your credit based on your assets, debts, past credit use, and income, and tell you which choices are available. After this assessment, we can outline how much you would qualify to borrow and assist you with the eligibility requirements for these and other home loan programs.

Mortgage Programs Available

The right mortgage will depend on the home your plan to buy, how long you plan to live in the home, and various other elements. As you look for a home, let the professionals here at Gem Home Loans help you match the loan product to your situation. The mortgage programs we offer include:

30-year fixed rate home loan – This loan gives you 30 years to pay back the money you borrow at an interest rate that will never change during the loan term.

15-year fixed rate home loan – This loan gives you 15 years to pay back the money you borrow but, because the monthly payments will be larger than those of the 30-year fixed rate loan, you will pay less in interest over the life of the loan. If your budget can handle it, you will be able to pay off your loan twice as fast.

Adjustable Rate Mortgage (ARM) –ARMs have interest rates that fluctuate up and down over the loan term. Borrowers enjoy a lower fixed rate in the first few years of homeownership and can save a substantial amount of money on interest payments if they don’t plan to stay in their homes for more than a few years.

FHA home loan – This loan helps make homeownership possible for borrowers who don’t have a large down payment saved up and have less-than-perfect credit. FHA loans can be adjustable-rate or fixed-rate and used for initial purchase or refinancing.

VA home loan – Mortgages backed by the Veterans Administration provide flexible, low-interest mortgages for members of the U.S. military (active duty and veterans) and their families. Down payments are not required and the rates and terms are often unmatched by traditional loans.

USDA home loan – Designed for moderate- to low-income borrowers in rural areas, this mortgage product offers better terms than private and other government-supported home loans. Credit requirements are typically more relaxed, and some USDA loans do not require a down payment.

Deciding on the right mortgage in Rochester Hills and across Michigan is an important financial decision. As one of the best mortgage companies in the region, Gem Home Loans can help you make the right choice. Visit us online or call us at (248)-318-2394, and let us help you meet your financial needs.