When it comes to choosing a mortgage company that serves Fenton, Michigan, you should really take your time before you make your decision – it’s going to be one of the most important you ever make. At Gem Home Loans, we feel we’re the best one in the state, but we’re obviously biased. We do think, however, that if you give us a try you’ll feel the same way. But if you still want to explore all of your options, here’s some information that will help you make the right selection.
Obviously, the first step in choosing a mortgage company is the interest rate. Keep in mind, however, that just because a lender offers a really low rate, that’s usually reserved for so-called “well-qualified buyers.” The majority of people who apply for a loan won’t be able to qualify. You might find yourself in this boat if your credit score could use a boost, or if your debt-to-income ratio is really high.
However, if you find that you’re not entitled to a fantastically low rate, don’t panic. That doesn’t necessarily mean that you’re doomed to paying a lot more in interest than you imagined. Gem Home Loans offers a wide range of loan options that feature very reasonable rates – and you might not even have to pay anything down.
Rates are truly important, of course, but that shouldn’t be the only thing that determines the mortgage lender you choose. You also need to keep fees in mind. Make sure you ask every company you’re considering about their fee structure. If they charge too much, it won’t really matter that much even if you could qualify for a really low rate. The fees you’d pay would eliminate whatever savings you might be able to get.
When choosing a mortgage company, it’s also going to be critically important that you trust the person you’re going to be working with. After all, you’ll be doing just that for a few weeks – more likely, a few months. As a result, you don’t want to run the risk of deciding on a lender that makes you uncomfortable in any way.
There are a lot of mortgage companies that have been around for a long time. But just because a lender’s been in business for 100 years, that doesn’t mean the person assigned to your loan will have the experience you want. A lack of experience isn’t necessarily a deal-killer if you’ve purchased homes in the past. But if you’re a first-time buyer, then you’ll probably feel better with someone who has at least a little seasoning.
You’ll have to feel good about the lender you eventually choose. Don’t be afraid to walk away if something doesn’t seem quite right. The longer it takes you to do so, the worse it will get. You could wind up being too far along in the process to find someone else.
It might be a good idea to talk to someone whose opinion you respect, someone who’s recently worked with a mortgage company. Find out whether or not they’d recommend that company to you.
Gem Home Loans is a mortgage company serving Fenton, Michigan that truly values its clients. Get in touch with us to find out more – it just might end up being one of the best decisions you’ve ever made. Contact us online or call (248) 780-1030.