Start with the payment, not the house
HUD's homebuying guidance starts with affordability: income, credit, monthly expenses, down payment, and interest rate. That is especially important in Ann Arbor and Dexter, where attractive entry-level homes can still create a challenging monthly payment.
Before touring, a first-time buyer should know the target monthly payment, estimated cash to close, comfort level for repairs, and how far they are willing to stretch for location. Our mortgage calculator turns a price into a payment so you can compare realistically.
Ask about Michigan buyer programs early
MSHDA's MI Home Loan and MI 10K Down Payment Assistance programs may help eligible buyers. Program limits, credit requirements, income limits, and education requirements can change, so buyers should confirm details with a MSHDA-approved lender before assuming they qualify.
Program fit depends on your credit, income, price range, and whether you are buying in Ann Arbor, Dexter, or a surrounding township.
Ann Arbor vs. Dexter tradeoffs
- Ann Arbor may offer more neighborhood variety, campus and downtown access, and condo options.
- Dexter may offer a smaller-town feel, subdivision choices, trail access, and some acreage options.
- A lower purchase price does not always mean a lower total cost if commute, repairs, taxes, or utilities change.
- Compare each home against the same payment, maintenance, and daily-routine requirements.
What to do before writing an offer
- Review recent comparable sales with your agent.
- Understand inspection options and what older homes may need.
- Ask about taxes, insurance, HOA fees, utilities, and likely repair costs.
- Use the school-district lookup to confirm assignment for the exact address.
- Decide what you can compromise on before a competitive home appears.
Keep each property's records together
Keep the loan assumptions, post-purchase tax estimate, school confirmation, commute test, disclosures, and inspection questions attached to the address. Confirm the property's condition with qualified inspectors and the financing structure with an approved lender.
Start with the buyer tools, then bring Penn | Ewing the addresses and unresolved questions you are weighing. Confirm loan and assistance-program details directly with an approved lender before relying on them.