Working with the average mortgage company in St. Clair Shores, Michigan probably won’t be a pleasant experience, to say the least. There’s a pretty good chance that company will try to steer you toward a loan you really don’t want, all in the name of profit. The more of those loans they can convince people to pursue, the larger commissions they make. But Gem Home Loans doesn’t work that way. In fact, we started this company because we really can’t stand that way of doing business.

Mortgage Company St. Clair Shores, MichiganWhen you turn to us, we’ll only recommend loans we truly believe you’ll be able to handle. Whether you want a traditional 30-year or 15-year loan, we’ll make sure it’s one that won’t cause long-term financial misery. If we don’t think a certain kind of loan will be in your best interests, we’ll tell you. If we do, then we’ll work hard to help you get approved, so you can get into the home you want.

Which is Better for You – a 15- or 30-Year Mortgage Loan?

You might have encountered a mortgage company in the past that tried to sell you on pursuing one of these loans. They didn’t take the time to spell out the pros and cons, again, because they wanted to boost their profits.

But Gem Home Loans is different. We’ll give you both sides of the story, and then help you make the best decision for your financial future, as well as that of your family. Here’s a quick look at the tale of the tape between these two mortgages.

15-Year Loans

The good thing about a 15-year mortgage is that you can, of course, pay off your home a lot faster. You’ll also save a great deal of money in interest – possibly tens of thousands of dollars. The downside is that you’re really going to have to make sure you can swing the higher monthly payment – and be able to do so for the length of the loan. You might be doing great now, but unless you’re totally convinced that’s going to be the case for quite a while, you might want to look at other options.

30-Year Loans

This is what comes to mind first for most people when they think of the typical home mortgage. It’s very popular, because it usually helps people get into the home they want, yet leaves them a little financial “wiggle room” each month, so to speak, in the form of a lower mortgage payment.

This will help you set money aside that you can use to pay off debt, or make some home improvements if you like. The disadvantage is that you’ll be paying a lot more interest, so you won’t have as much money left over once the loan is paid off.

So, which option do you think will be better for you? That’s where we come in. We’ll take a close look at your finances to help you make the best possible choice.

Contact Gem Home Loans

Once you work with Gem Home Loans, you’ll never want to deal with any other mortgage company in St. Clair Shores, Michigan ever again. Find out why by using our convenient online contact form to get in touch, or by giving us a call at (248) 780-1030.