When GMAC was originally founded in 1919, its primary goal was to provide auto loans to car buyers who wanted to own a GM vehicle. Over the years, the company began to serve its customers in different ways, such as by providing home mortgage loans, online banking services, commercial loans and more. In 2010, GMAC Mortgage was purchased by Ally Financial, and it remains a subsidiary of this lending institution. GMAC Mortgage serves its many customers in all 50 states, and it is a licensed provider of FHA and VA loans. If you are thinking about applying for a new mortgage through GMAC Mortgage, you may be wondering what you can expect from this firm.
Competitive Interest Rates and Loan Terms
GMAC Mortgage is well-known for providing highly competitive interest rates as well as flexible loan terms. Many new home buyers as well as existing home owners eager to refinance are committed to finding the lowest rate possible on their home loan. This makes sense because your interest rate will dictate the loan amount you qualify for, your mortgage payment and how quickly you can reduce your outstanding principal balance. GMAC Mortgage issues its competitive loan rates based on a wide range of factors, and this includes credit rating, where the property is located, if you will live in the property, what the loan amount is and more. Because rates are quoted on a case-by-case basis, it is a smart idea to complete a loan request form for more information.
Refinance and Home Equity Loan Options
While GMAC Mortgage offers great rates on new home loans, you may have plans to refinance your first lien or to take out a home equity loan in the second position. Through GMAC Mortgage, you can easily refinance your current first lien into a new loan that meets your financial objectives. You can also keep your existing first lien in place, and you can apply for a home equity loan through GMAC Mortgage to tap into your existing equity. Through both of these options, you can expect to restructure your debt so that it more easily meets your needs.
Requesting a Firm Quote
While it is great to know that GMAC Mortgage offers fabulous lending terms on both purchase and refinance or home equity loans, you may be wondering what specific terms the lender can provide to you. GMAC Mortgage makes it easy for you to learn more about the financial terms that can be extended to you. By spending a few minutes completing the online loan request form or by providing details about your loan request to a lending rep over the phone, you can get firm information about financing options available through this lender. This will help you to make a more educated decision about whether to move forward with your home loan plans.
Both GMAC Mortgage and Ally Bank are popular, well-known names in the financial industry, and you may find confidence and security in the reputation that these companies have. More than that, when you move forward with your loan application, you will discover that these companies offer clients a wonderful overall loan experience. Take a moment to complete your loan request form to get started working with GMAC Mortgage.