Coldstone Group — First Time Home Buyers

Having the Right Team Has Never Been More Important.

Buying your first home is one of the biggest decisions you'll ever make — and you shouldn't have to figure it out alone. Coldstone makes sure you walk into every step feeling like an expert, backed by a team that's done this before.

Know Your Options

Programs Built to Get You Into Your First Home

Most first-time buyers don't realize how much help is available to them. Between federal programs and Michigan-specific assistance, there are real tools that can reduce your down payment, lower your rate, and even cover closing costs. Here's what you should know.

FHA Loan

Backed by the Federal Housing Administration, FHA loans allow down payments as low as 3.5% with a credit score of 580+. A common entry point for first-time buyers who haven't had time to build a large down payment.

Federal

Conventional 97

Fannie Mae and Freddie Mac both offer conventional loans with as little as 3% down for first-time buyers. If your credit is strong, this can be more cost-effective than FHA over the life of the loan.

Federal

USDA Loan

If you're buying in a qualifying rural or suburban area — which includes many communities in Livingston and surrounding counties — USDA loans offer zero down payment financing for eligible buyers.

Federal

MI Home Loan (MSHDA)

Michigan's primary first-time buyer program through the Michigan State Housing Development Authority. Offers a competitive fixed interest rate plus up to $10,000 in down payment assistance through the DPA program.

Michigan

MSHDA Down Payment Assistance

The MSHDA DPA provides up to $10,000 as a zero-interest second loan to cover your down payment and closing costs. Available statewide to first-time buyers who meet income and purchase price limits.

Michigan

MI 10K DPA Zip Code Program

Targeted down payment assistance of up to $10,000 for buyers purchasing in specific Michigan zip codes. Coldstone agents are familiar with which areas in our market qualify — ask us during your consultation.

Michigan

Things That Matter

What Every First-Time Buyer Should Know Before They Start

Experience changes how you see the process. Here's what our agents wish every first-time buyer knew coming in.

01

Get Pre-Approved, Not Just Pre-Qualified

Pre-qualification is an estimate. Pre-approval means a lender has verified your income, assets, and credit. In a competitive market, sellers won't take you seriously without it — and you shouldn't make offers without it either.

02

Your Credit Score Affects More Than Approval

Even a 20-point difference in your credit score can change your interest rate, affecting your monthly payment and total cost over 30 years. It's worth taking 60–90 days to improve it before applying if you're borderline.

03

Budget Beyond the Down Payment

Closing costs typically run 2–5% of the loan amount on top of your down payment. Then there's the home inspection, moving costs, and immediate repairs. Plan for all of it — not just the down payment number.

04

An Inspection Is Non-Negotiable

Waiving an inspection to win a bidding war is a risk most first-time buyers aren't equipped to absorb. A $400 inspection can save you from a $40,000 surprise. Coldstone agents will always advise you on how to stay competitive without skipping this step.

05

The Listing Price Is a Starting Point

The asking price is a seller's opening position, not a fixed number. Your offer strategy — price, terms, contingencies, timeline — matters just as much. This is where having an experienced negotiator in your corner makes a real difference.

06

Don't Make Big Financial Moves During the Process

Once you're under contract, avoid opening new credit accounts, making large purchases, or switching jobs. Lenders re-verify your financial profile before closing, and changes can delay or derail your loan.

How We Work

The Coldstone First-Time Buyer Process

We don't hand you a pamphlet and wish you luck. Every first-time buyer at Coldstone goes through a structured, guided process designed to remove uncertainty at every stage.

1

The Assessment

Before anything else, we sit down — virtually or in person — to understand where you are financially, what you're looking for, and what your realistic timeline looks like. This isn't a sales call. It's a strategy session.

We'll cover your goals, budget, timeline, and any concerns you have.

2

Financial Preparation & Lender Connection

We connect you with trusted lenders in our network and help you understand which loan programs you qualify for — including any Michigan-specific assistance. If your credit or savings need work first, we'll tell you honestly and give you a clear plan.

We'll help you get pre-approved, not just pre-qualified.

3

Building Your Success Strategy

Once you're pre-approved, we build a tailored buying strategy — your must-haves, your flexibility zones, target neighborhoods, and offer approach. No two strategies are the same because no two buyers are the same.

Your strategy includes priorities, search parameters, and offer guidance.

4

The Search

We actively search on your behalf, alert you to new listings immediately, and preview properties when it makes sense. When you find something you like, we move quickly — because in this market, hesitation costs.

We work your timeline, not ours.

5

Making the Offer

We analyze comparable sales, evaluate the property's position in the market, and craft an offer that gives you the best chance of winning — without overpaying. We walk you through every term before you sign anything.

You'll understand exactly what you're agreeing to and why.

6

Inspection, Appraisal & Due Diligence

Once under contract, we coordinate your inspection, walk the results with you, and advise on what to negotiate, what to accept, and what would be a deal-breaker. We also manage the appraisal timeline so nothing falls through the cracks.

We've seen a lot of inspection reports — we'll help you interpret yours.

7

Clear to Close

As closing approaches, we coordinate with your lender, the title company, and all parties to make sure the final steps happen on schedule. We'll do a final walkthrough with you and make sure you know exactly what to expect on closing day.

No surprises. Just keys.

Livingston County

Bay County

Genesee County

Oakland County

Frequently Asked Questions

Quick answers to our favorite questions:

What sets Coldstone apart?

At Coldstone, one of our core beliefs is that no two transactions are the same. We emphasize a comprehensive and wholistic approach to service, carefully analyzing each client's individual needs prior to developing a tailored success strategy.

What does a success strategy include?

Your individual success strategy will vary, but will always include a clear goal, along with all of the necessary steps to prepare for your transaction as well as checkpoints throughout to ensure we are on track.

Why is it important to start the process early?

Buying or selling real estate is a lot like climbing a mountain. You already know where you want to go, but it can be a long and bumpy road to get there. What's more, it's almost impossible to see the whole trail from the bottom. Without careful planning, the climb isn't easy. A smooth sale starts with great preparation, and agents that are with you every step of the way.

Do you ONLY help buyers or sellers?

No, our team is extremely seasoned in both Buyer and Seller representation. Using our industry leading tools and approach, we help both buyers and sellers reach the peak in even the most challenging conditions.