30 Year Mortgage Michigan

When it comes to a 30-year mortgage, Michigan residents have a lot to think about. Big mortgage companies thrive on that. They know you’re trying to wade through all of your alternatives, but they don’t want you to do that – they want to sell you the mortgage they offer. It really doesn’t matter to them that there could be much better options out there. But at Gem Home Loans, we’ll not only help you explore your options, we’ll be there for you through the entire process, guiding you to the mortgage that truly does the best job of meeting all of your needs.

Go with Gem Home Loans

At Gem Home Loans, we take a different approach with our clients. Since we work with dozens of different investors, we can shop around on your behalf to find the best mortgage loan program, and to find the one that offers the best rate. The vast majority of other companies in our business won’t do that. They’ll try to convince you that their loan is the best – even if it isn’t, and they know it.

FAQ – 30-Year Mortgages

We’ve been business for a long time, so you can imagine how many questions we get. Here are the answers to a few of the questions we typically receive regarding 30-year mortgage loans.

• What are the pros of a 30-year mortgage? – Maybe the best thing about a 30-year mortgage is that the monthly payment is lower – it will usually be significantly lower than a 15-year program. Also, a fixed-rate mortgage gives you certainty, since you know what you’ll be paying every month.
• What are the cons? – Probably the interest you’ll be paying. With a 15-year program, you’ll pay off the loan in half the time, so you’ll pay less interest. That could save you tens of thousands of dollars, money you could put toward retirement, your child’s college education, or anything else you want.
• How do I choose? – You really need to take a long, hard – and realistic – look at your financial situation. Take your best-educated guess as to what your situation is like now, and what it will most likely be years from now. While no one can tell the future, of course, being realistic will at least give you the best idea possible of what type of mortgage you’ll be able to handle. A Gem Home Loans expert will help you make the right choice. There could actually be an alternative to a 15- or 30-year loan that you haven’t previously considered.

Other Kinds of Loans

Most people assume that a 30-year mortgage is just for a house. But you have other options as well. You could, for example, get a home construction loan. There might be certain types of government program – such as a VA or FHA loan, that might actually be a much better choice. You won’t have to put nearly as much down (in fact, if you qualify for a VA loan you won’t have to put down a penny), and you don’t need a sterling credit score.

A Gem Home Loans expert will walk you through all of your options so you can make the choice that best fits your finances.

When thinking about a 30-year mortgage, Michigan residents turn to the expertise of Gem Home Loans on a regular basis. Find out why by calling (248) 780-1030 or contacting us online.