1. Get Your Financial Documents Ready

  • Check your credit score
  • Gather 30 days of pay stubs
  • Provide 2 years of W‑2s or tax returns
  • Provide 2 months of bank statements
  • Document any large deposits
  • Estimate a comfortable monthly payment based on local taxes and insurance

2. Understand State‑Specific Costs & Programs

South Carolina

  • Owner‑occupied homes qualify for the 4% property tax rate (must file with county assessor after closing)
  • Flood zones are common in coastal areas — may require flood insurance
  • SC Housing programs:
    • SC Housing First‑Time Homebuyer Program
    • Palmetto Home Advantage
    • Down Payment Assistance (DPA) options
  • Many areas qualify for USDA Rural Housing

Michigan

  • Michigan uses a Homestead Exemption for primary residences (reduces property taxes)
  • Michigan State Housing Development Authority (MSHDA) programs:
    • MI Home Loan
    • MI Home Loan Flex
    • MSHDA Down Payment Assistance (up to program limits)
  • Some counties have local DPA programs
  • Michigan has transfer taxes at closing (state + county)

3. Get Pre‑Approved

  • Complete a full loan application
  • Provide all required documents upfront
  • Receive a state‑specific pre‑approval letter
  • Typical closing timelines:
    • South Carolina: 30–45 days
    • Michigan: 30–40 days

4. Start Your Home Search

  • Choose a Realtor familiar with your local market
  • Compare neighborhoods, schools, taxes, and HOA/POA fees
  • Consider climate‑specific factors:
    • SC: Flood zones, hurricane exposure, coastal insurance
    • MI: Winterization, heating systems, older housing stock
  • Attend showings and open houses

5. Make an Offer

  • Review comparable sales
  • Decide on offer price, contingencies, and closing date
  • Submit your offer with your pre‑approval
  • Earnest money norms:
    • SC: Often around 1% of purchase price
    • MI: Varies widely, often $1,000–$2,500 for entry‑level homes

6. Complete Inspections & Appraisal

South Carolina

  • General home inspection
  • Termite/CL‑100 inspection (very common and often required)
  • HVAC inspection (humidity + heat)
  • Roof inspection (coastal weather exposure)

Michigan

  • General home inspection
  • Well and septic inspections (common in rural MI)
  • Radon testing (recommended in many MI counties)
  • Furnace/boiler inspection (cold‑weather climate)

Both states:

  • Lender orders the appraisal
  • Address repair negotiations or appraisal conditions

7. Finalize Your Loan

  • Lock your interest rate
  • Provide any final documents requested
  • Review your Loan Estimate and Closing Disclosure
  • Confirm any DPA or state‑specific program requirements

8. Prepare for Closing

South Carolina

  • SC is an attorney‑closing state — closings handled by a licensed real estate attorney
  • Bring ID and certified funds (or wire)
  • Complete final walk‑through

Michigan

  • Closings typically occur at a title company
  • Bring ID and certified funds (or wire)
  • Complete final walk‑through

9. Move In & Settle

South Carolina

  • Transfer utilities (Horry Electric, Santee Cooper, etc.)
  • File for the 4% owner‑occupied property tax rate
  • Change locks and update mailing address

Michigan

  • Transfer utilities (varies by county/city)
  • File for the Michigan Homestead Exemption
  • Change locks and update mailing address