Am I Ready To Buy?

When considering homeownership for the first time, it’s important to determine if buying makes both, financial and practical sense for you. To do so, consider the pros and cons to both renting and buying, weighing them to your personal situation.

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Things To Consider:

Location
Length of time you plan on staying in the area
Income and job stability
Utility expenses
Home care

What Can I Afford?

Down Payment Info

Typically starts at 3% of the cost of the house. The more you can put down, the greater equity you will have in your home and the lower your monthly payment will be. For down payments less than 20%, you may be required to pay mortgage insurance.

Ongoing Fees

Monthly mortgage payment
Homeowners Insurance
Mortgage Insurance
If applicable – Property taxes

Closing Costs

Typically range from 2-6% of the loan amount depending on your area.

Need A Realtor?

Make LuxPro Mortgage your first call to get pre-approved and then start shopping for a house right away by getting quickly matched with a Realtor from New Michigan Realty.

Everything under one roof no hassle home buying process!