Rookie home buyers may be at risk for missteps that could compromise the purchase. Here are three tips to help you stay on the right road:
Tip 1: Consider All Loan Products
Loan products like Federal Housing Administration loans or first-time home buyer programs may help you qualify for a mortgage and save money.
Tip 2: Steer Clear of Big Financial Changes
Don’t open up new credit cards or make big purchases before closing. This could affect your credit and even make you ineligible for a mortgage.
Tip 3: Budget for Costs Beyond the Down Payment
Factor in closing costs (typically 2% to 5% of the purchase price), the earnest money deposit, property taxes, and homeowners’ association fees, if applicable. Things in homes always break down, so people should put aside a budget for anything that will need fixing. A rule of thumb is to anticipate 1% or 2% of the home price for potential maintenance.
Check out below to see what sold in Kirkway Estates in August 2025:
23171 Chelsea Court, South Lyon: 6 bedrooms, 5 bathrooms, 3,000 sq. feet, 3 car garage, Sold Price: $890,000
Kirkway Estates Home Sold
August 2025
For more information on Kirkway Estates, The DiMora Team today at 248-505-7728 or jim@dimora.com.