Gem Home Loans is the leading mortgage company in Okemos, Michigan because we place clients over profits. We work extremely closely with our clients, carefully spelling out the advantages and disadvantage of the loan programs we offer. As a result, our prospective home buyers have the best information possible, to make the best decision possible. While we truly believe we’re the best lender around, we also understand that you might still be in the decision-making process. Here are a few tips that should help that process go a little easier.
The first thing you’ll be looking for in a mortgage lender is the interest rate they’ll be able to offer. When rates are low, you want to take advantage, of course. But just because that may be the case, that doesn’t necessarily mean you’ll qualify for those very low rates. If you have a high debt-to-income ratio, or your credit score isn’t where it needs to be, that’s going to make it much harder.
But even if your ratio and score aren’t exactly where they need to be, you don’t need to resign yourself to having to pay a high interest rate. There are lots of programs that you might find extremely attractive.
As important as rates are, they shouldn’t be the be-all, end-all when it comes to picking a lender. Don’t forget to ask the ones you’re considering about fees. If the fees are really high, that will eliminate any savings you might see from a low rate.
Remember, you’re going to be working with the mortgage company you choose very closely, and for quite a while. You want to be 100 percent certain that the one you pick will be one that makes you feel comfortable. It will be especially important that you trust the person you’ll be working with.
You might think it will make sense to go with a bank that’s been around for 100 years. But you might wind up being assigned to someone who’s just starting out as a loan officer. While that doesn’t necessarily have to be a bad thing, you’d probably rather work with someone who has a substantial amount of experience.
We can’t overstate how important it will be to feel really, really good about the company (and the person) you choose to work with. If there’s something that doesn’t quite feel right, walk away. If you get too deep into the process, there may be no escape. Trust your instincts and you’ll very likely make the right decision.
Do you know anyone who has recently worked with a mortgage company in your area? If that’s the case, ask them what kind of experience they had, and whether or not they would recommend that company. If that person is someone you trust and respect, like a close friend or a family member, the odds are that any advice they give will be worth following.
At Gem Home Loans, we want to be your mortgage company in Okemos, Michigan for a long time to come. If you have any questions, we’ll be more than happy to answer them. You can give us a call at (248) 780-1030 to get in touch, or you can use our online contact form.