For those looking for competitive mortgage rates, GMAC Mortgage might just be the place to go. What makes GMAC Mortgage different? Simple, it’s their dedication to customer assistance. Not all of us are familiar with the home loan process, and that’s where GMAC comes in. GMAC Mortgage has a dedicated team specialist that will help in every step of the mortgage process in order for borrowers to make the right decision. Their rates are low and competitive and their loan programs vary to accommodate the needs of the people. And lastly, this company is a subsidiary and owned by Ally Financial Inc.
Mortgage Variations
The first mortgage variation they have that is the usual choice for most is the fixed rate mortgage. This kind of mortgage will assure the borrowers that their mortgage monthly payment will not change over the life of the loan they have chosen. This is generally the safer choice for most because interest rates don’t spike unlike adjustable rate mortgages. When people decide on the fixed rate loan, they will then choose the program or term they want to have. The most common is the 30 year fixed with a rate of 3.625% and an APR of 3.73%. The other term they have is the 15 year fixed with an APR of 3.191% and the rate of 3.625%. On the other hand, the next variation they have is the five year ARM with an adjustable rate that will fully be disclosed in terms of the amount an individual or family will borrow.
More Things To Love At GMAC
Aside from their competitive mortgage rates, there’s more reason to get a mortgage at GMAC. First of all, they can give as little as 10-20% down payment requirement on the value of the house. Another thing is, you won’t be charged with a penalty should you decide to make pre-payments. This way, you can save on the interest, while getting ahead on your loan.
Those who are planning to buy a house should carefully look for the best mortgage company in order for them to have the best deals they can have and GMAC can certainly have you saying yes.
