Mortgage Broker Near Me in Novi, Michigan

You’d be surprised at how many people type in, “mortgage broker near me in Novi, Michigan” when they’re looking for a new home. When they do, they see a lot of options. How can they be sure the company choose will be the best one for their specific situation? If you’re in this category, all you need to do is to get in touch with Gem Home Loans.

We’ve helped thousands of people over the years – many of them several times. They come back to us because they know they can trust us to always act in their best interests. We’d like the opportunity to earn your trust as well.

What Types of Mortgages Do You Offer?

Once people contact us after their search, this is probably the question we get most often. Actually, we have a lot of different kinds of mortgage options to choose from. Here’s a quick look at just a few.

Adjustable Rate Mortgages

Commonly referred to as an ARM, an adjustable rate mortgage works just like its name implies. The rate of the mortgage adjusts from time to time. It usually adjusts after you’ve had it for a certain amount of time. When the mortgage starts, you pay a fixed rate. Then, after a few years, your payment will go up or down depending on the interest rate at that particular time.

If you don’t mind a little uncertainty when it comes to your monthly payment, an ARM might be a good idea. You’ll more than likely pay less the first few years than what you would if you had a fixed-rate mortgage, which we’ll cover next.

Fixed-Rate Mortgages

A lot of people don’t like to be on the ARM rollercoaster. They want to know exactly how much they’ll be paying every month. If you’re one of them, then you’ll probably want to opt for a fixed-rate mortgage. Two of the most common fixed-rate mortgages are for 15 years and 30 years. Here’s how they compare.

• A 15-year mortgage means you’ll be paying far less interest over the life of the loan. This could mean savings of tens of thousands of dollars. The downside is that you’re going to be paying a great deal more each month.
• If you go with a 30-year loan, the opposite will be true. Your monthly payments will be lower, but you’ll be paying a lot more in interest. The good news is that you might be able to afford a larger home than would be possible through a 15-year mortgage.

Turn to the Professionals

At Gem Home Loans, we’re different from just about every other mortgage company. We don’t try to influence our clients’ decisions. We simply lay out the facts and let them make their choice. Of course, we’ll make recommendations, but we won’t try to convince you to take a certain type of loan because it will make us a huge commission. Our company simply doesn’t work that way.

Once you work with us, you won’t have to worry about searching for a “mortgage broker near me in Novi, Michigan” ever again. Learn why by giving Gem Home Loans a call at (248) 780-1030 or using our convenient online form. We look forward to working with you.