Best Mortgage Company Birmingham, Michigan

If you want the best mortgage company in Birmingham, Michigan, you want to work with Gem Home Loans. We’re experts in home loans of all types, and we have decades of experience. More than that, our professionals are passionate about our clients. No matter what kinds of questions you may have, we’ll be here to answer them. You’ll work closely with a team member who will know exactly what kind of loan will be best for your specific financial situation.

15-Year Mortgage – Is it Right for You?

You probably already know that the most common type of mortgage stretches for 30 years. But if you have the financial wherewithal, you might actually be better off with a 15-year mortgage. Not only will you pay off the mortgage in half the time, you’ll also save tens of thousands of dollars (and maybe even more) in interest payments. You’ll make much more of a profit if you ever decide to sell the loan.

However, as much of a commitment a 30-year mortgage can be, a 15-year mortgage is even more of a commitment. You’ll be paying off the home a lot faster, but you’ll also be paying much more each month. You could easily be looking at paying $600 or even more.

This is a choice that will impact your finances for a long time to come. As a result, you’ll have to think long and hard about whether or not you would be able to handle this kind of mortgage. Will you have the money to afford a larger monthly payment, while being able to handle your other expenses?

That’s where the professionals at Gem Home Loans can help. When you work with us, we’ll be honest and transparent at all times. If we think you could comfortably afford a 15-year mortgage, we’ll be more than happy to recommend this course of action. If we don’t, we’ll tell you. We care more about our clients than we do our profits. Could we make more money by trying to talk you into a 15-year mortgage? Maybe. But we care more about your financial stability.

You Can Use a 15-Year Mortgage for Other Things as Well

The common assumption is that 15-year mortgages are only for buying existing homes. But you can use it in other ways as well. Here are a couple of other ideas.

• A home renovation – You could take out a 15-year loan for any major renovations you might be planning. If you’re completely happy with the home you’re in, but you realize it could use some improvements, maybe this kind of loan would be worth considering. You could give your kitchen or bathrooms a makeover, or maybe even add a new room.
  

• Buying land – Say you’re thinking of purchasing some land for your ultimate dream home. A 15-year loan could help you do that. Then, when the time comes to construct the home, you could take out a separate home construction loan.
  

Explore Your Options With Gem Home Loans

Talk to a professional with Gem Home Loans – the best mortgage company in Birmingham, Michigan. We’ll spell out all of your loan options, and give you the information you need to be as confident as possible in your ultimate decision. Contact us online or call (248) 780-1030.