Find First-Time Home Buyer Specialists in Rochester Hills, MI
Compare first-time home buyer specialists in Rochester Hills. Review contact information and insurance categorys before you decide.
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State Mortgage Licensing Authority of Michigan before hiring.
Showing 2 first-time home buyer specialists in Rochester Hills, MI
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A first-time home buyer specialist in Rochester Hills Michigan can help you navigate the local real estate market and Michigan specific programs like the MSHDA down payment assistance. These specialists understand Oakland County property tax rules and the Michigan land contract laws that may affect your purchase. They guide you through the entire process from pre-approval to closing.
What Does a First-Time Home Buyer Specialist in Rochester Hills Cost?
Typical costs for a first-time home buyer specialist in Michigan include a real estate agent commission which is usually 2.5 to 3 percent of the purchase price paid by the seller. Mortgage origination fees range from 0.5 to 1 percent of the loan amount. You may also pay for a home inspection costing 300 to 500 and an appraisal costing 400 to 600. Michigan requires title insurance which costs about 0.5 percent of the purchase price. This is general information not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What is a first-time home buyer specialist in Rochester Hills?
A first-time home buyer specialist is a real estate agent or mortgage advisor who focuses on helping buyers who have never owned a home before. They know about Michigan specific programs such as the MSHDA DPA loan which offers up to 10000 in down payment assistance. They also understand local market conditions in Rochester Hills and Oakland County.
What Michigan programs can a first-time home buyer specialist help with?
A specialist can help you apply for the Michigan State Housing Development Authority MSHDA programs including the MI Home Loan and MI 10k DPA. These programs offer low fixed interest rates and forgivable down payment assistance for eligible buyers. Michigan law requires that you complete a home buyer education course to qualify for MSHDA assistance.
How do I choose a first-time home buyer specialist in Rochester Hills?
Look for a specialist with experience in Rochester Hills and knowledge of Michigan real estate law including the Seller Disclosure Act. Ask about their familiarity with local inspection requirements and Oakland County recording fees. Check that they are licensed in Michigan and have positive reviews from other first time buyers.