Think you need thousands of dollars to buy a home? Think again! David just proved that homeownership is possible with minimal upfront costs and lower monthly payments than renting. By leveraging a USDA Rural Development Loan, strategic planning, and smart negotiations, David turned his dream into reality with just $869.71 due at closing—less than most security deposits on rentals!
Year Built: 1910
1,436 Square Feet
3 Bedrooms
1 Bathroom
1 1/2 Lots
Detached 3-Car Garage
Property Taxes: $2,690 Yearly
Home Insurance: $1,861 Yearly
Loan Type: USDA Rural Development Loan
Purchase Price: $166,000
Loan Amount: $167,676 (Includes USDA Fee)
Closing Costs: $7,093
Seller Credit: $6,000
Total PITI Payment: $1,613
Total Due at Close: $869.71
This home in Algonac Michigan did not have a buyers agent because the buyer contacted the seller directly. We helped the buyer structure their offer in the best way to keep their out of pocket costs low.
This home in Algonac Michigan did not have a Listing agent because the seller listed the property for sale without an agent.
Address: 330 Michigan St
Port Huron, MI 48060
Phone: (810) 987-2141
Become a homeowner without draining savings
Find a monthly payment lower than rent
Minimize out-of-pocket costs at closing
Avoid surprise expenses or last-minute fees
Zero Down USDA Loan: Covered 100% of the purchase price
Rolled-in USDA Guarantee Fee: Kept out-of-pocket costs low
Minimized Prepaid Interest: Smart closing date selection
Strategic Seller Credit: Negotiated $6,000 in seller-paid closing costs
Shopped for Affordable Title Services: Saved hundreds in closing fees
Lender-Paid Broker Compensation: Ensured no extra costs to the buyer
David’s Monthly Mortgage Payment: $1,613 (PITI)
Comparable Rent in Algonac: $1,800+ per month (See Below)
David’s Monthly Savings: $180/month
David’s Move-in Cost: $869.71
Rental Move-in Cost: $4,500 (First month + security deposit)
Home Characteristics: 1,389 Sq Ft, 3 Bedroom, 1 Bath
Monthly Rent: $1,799
Cost To Move In: $4,549 ($2,750 security deposit + 1st Months Rent)
Home Characteristics: 1,300 Sq Ft, 3 Bedroom, 1 Bath
Monthly Rent: $1,799
Cost To Move In: $4,549 ($2,750 security deposit + 1st Months Rent)
By purchasing instead of renting, David not only saved upfront but also gains home equity every single month!
Total Closing Costs Before Credits: $7,093
Seller Credit: -$6,000
Lender Credit: -$223
Final Cash to Close: $869.71
Lender Fees: Appraisal ($640), Admin Fees ($250)
Title Company Fees: Closing Fee ($500), Title Insurance ($858)
Prepaid Expenses: Home Insurance ($1,861), Prepaid Interest ($514)
Escrow Setup: Future Taxes & Insurance ($2,169)
Tax Prorations: Seller Reimbursement For Taxes Paid In Advance ($1,080)
Pro Tip: Avoid high closing costs by negotiating seller credits and choosing a cost-effective title company!
Curious how these numbers would work for your dream home? Instead of guessing, let’s run your Practice Purchase!
📊 What We’ll Do in Your Practice Purchase:
✅ Soft Credit Check (Won’t Affect Your Score)
✅ Personalized Loan Options
✅ Exact Monthly Payment Calculation
✅ Detailed Fees Worksheet (Just Like David’s!)
✅ Completely FREE
👉 Click Below to Start Your Practice Purchase Today!
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When searching for the best mortgage lender in Algonac, MI, Michigan Mortgage Solutions stands out as the trusted choice for homebuyers, homeowners, and real estate investors. Our team is committed to providing personalized mortgage solutions, whether you're purchasing your dream home, refinancing for better terms, or expanding your investment portfolio. Unlike traditional banks that offer limited mortgage products, we provide a wide range of loan programs with competitive rates and flexible terms, ensuring you get the best financing for your needs.
At Michigan Mortgage Solutions, we specialize in a variety of mortgage options, including FHA, VA, and USDA loans for first-time buyers, as well as conventional and jumbo loans for those purchasing high-value properties. Investors can take advantage of our DSCR loans, fix-and-flip financing, and cash-out refinance programs, designed to help them grow their real estate portfolios. Our extensive network of lenders allows us to offer the lowest rates and most favorable terms, ensuring that every borrower receives a customized loan solution that fits their financial goals.
What makes us the best mortgage lender in Algonac is our commitment to customer service and expert guidance throughout the mortgage process. We understand the local market and work closely with buyers to secure the most advantageous financing options. Our team is available beyond traditional banking hours, including evenings and weekends, so you get the support you need when it matters most. With a reputation for trust, efficiency, and transparency, Michigan Mortgage Solutions is your go-to mortgage partner in Algonac. Contact us today to get started with a lender who puts your financial success first!
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Service Hours
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Monday - Friday: 9:00 AM - 6:00 PM
Saturday: 9:00 AM - 12:00 PM
Sunday: Closed
Contact Us
(248) 963-1894
35 W Huron St #301
Pontiac, MI 48342
Service Hours
Monday - Friday: 9:00 AM - 6:00 PM
Saturday: 9:00 AM - 12:00 PM
Sunday: Closed
Social Media