If you are looking for the best mortgage rates on home loans in Rochester, Michigan, look no further than Gem Home Loans. We would love to help you find a home mortgage that’s right for you and your budget!

Gem Home Loans is a client-focused mortgage broker that prefers working one-on-one with clients in building custom financial solutions that meet their unique needs.

Mortgage Rates Rochester, MichiganOur experienced professionals understand Michigan and the local housing market. The person you contact will be the same person you work with throughout the completion of the home financing process.

If you are looking for personalized attention and customer service that results in a smooth loan process and consults with you on options for your home financing, Gem Home Loans is your lender for life.

About Mortgage Rates

While you cannot control every factor that influences mortgage rates, you can control the type of property you buy, your down payment amount, your credit score, the points you pay, and loan you choose.

Gem Home Loans will help you get the most competitive rates by comparing quotes from competing lenders and helping you choose the best offer.

Shopping for the Best Rate

Mortgage lenders are independent companies, like banks and other financial institutions, that will set the terms, interest rate, repayment schedule and other key aspects of your mortgage. On average, rates will vary between lenders by 0.25 to 0.5 percent or more and smart shopping can help you find the lowest rates.

How much can you save? If you borrow $400,000 with a 30-year fixed-rate loan at 3.75%, your monthly principal and interest payment would be $1,852. At 4.25%, that monthly principal/interest payment would jump to $1,968, or $116 more every month. Finding a lender that offers the lower rate would help you save nearly $7,000 over the next five years alone.

Gem Home Loans offers a wide range of mortgage products from a number of different lenders, including banks, credit unions, and non-traditional lenders.  We are not limited by geography and will tap local and statewide lenders.

Once we have competing bids in hand, we can save you time by negotiating on your behalf. We work with different types of lenders, including those who specialize in servicing people with adverse credit, and can leverage our relationships with mainstream banks.

If one lender’s loan package lacks something a competitor is offering you, our skilled professionals may be able to encourage the lender to tweak the original offer in your favor.

Your Credit Score

It’s important to keep in mind that the interest rate you get on your mortgage will be directly influenced by your credit score. Always pay your bills by their due date. About 35% of your credit score is based on your repayment habits. Never max out your credit cards. Keeping balances below 30% of your revolving credit limit will show lenders that you can manage your finances responsibly.

As you evaluate your options for home mortgages in Rochester, Michigan, Gem Home Loans can help you find the best interest rates. Get in touch with us at (248)-318-2394 or contact us online to discuss your many options with one of our experts.