A lot of homeowners are really interested in refinancing in order to lower their mortgage rates in Plymouth, Michigan. Or they may want to change their mortgage from a fixed-rate to an adjustable rate, or vice versa. No matter what your motivation may be, turn to Gem Home Loans. We have a team of skilled, experienced professionals who are here to help.
When you work with us, you’ll quickly see what sets us apart from other lenders. We’ve been in the banking world before. We saw firsthand how banks and other lending institutions often try to force clients into going a certain direction – whether or not doing so would be in that client’s best interests. We can’t stand that approach.
What we do is work with clients on an individual basis, taking their specific needs into account when recommending any sort of loan program, or refinancing option. You’ll never have to worry about us putting profits over people. Like any business, we want to make money, of course. But we won’t sacrifice your financial future in order to do so.
When you choose Gem Home Loans, you’ll be choosing a company that will work hard to find the financial solution that’s best for you and your family. If you ever have any questions or concerns, we’ll be here to answer them. We’ll also take the time to spell out all of your options so you can be truly comfortable with your ultimate decision.
The mortgage brokers with Gem Home Loans act as intermediaries between clients and lenders. All of our professionals are trained and licensed, and we work with dozens of different lenders. We use this network to help our clients find the programs that are best for them.
Once we get the information we need, such as your credit score and credit history, we can then spell out all of your choices. You won’t pay us anything – the lender will. So when we say your success is our success, we really mean it.
There are a lot of people just like you. They’re not sure whether nor not they want to refinance their mortgage. While it’s obviously tempting to do so when home values rise and interest rates drop, don’t act too quickly. Take some time and consider these important factors.
Reduced Interest Rates
If refinancing can drop your interest rate by 1 percent or greater, then refinancing will probably be a good idea. Not only will you save money each month, you’ll also be building home equity much faster. You may also be able to move from a 30- to a 15-year mortgage without paying a lot more each month.
How Much Longer Do You Plan on Living in Your Home?
This is important in regard to closing costs. In some instances, homeowners will pay a few thousand dollars in order to refinance. If you have around $150,000 on your mortgage, the closing costs will probably be anywhere from 3-6 percent of the loan. That could mean you’d pay between $4,500-$9,000. If you plan to stay in your home for five or more years, then you’ll probably be able to make that money back. If not, then refinancing probably won’t be that great of an idea.
Whether you want to refinance in order take advantage of lower mortgage rates in Plymouth, Michigan or any other reason, contact Gem Home Loans. Use our online form or call (248) 780-0601.