The mistakes that cost buyers real money.

Every one of these is preventable if you know it is coming. This is the short list Steve and Greg walk through with every buyer.

Locking or closing before you apply

Grants are not retroactive. Smart Start cannot attach to a loan that is already locked or closed.

The Michigan $10,000 DPA and Chenoa are loans that are repaid on sale, refinance, or payoff. Only grants and the MCC are never repaid.

Homes built before 1978 must pass a lead paint inspection. This is the single most common cause of delay.

The MCC must be set up before closing. Refinancing usually kills it, so plan the stack up front.

Income limits are county and household specific. They change yearly. Confirm the current figure before you count on it.

Not every down payment program can be combined. Detroit runs a duplication of benefits review, and Smart Start has its own overlay rules.

The usual test is no ownership in the past 3 years, but each program has its own overlays. Ask before you assume.

Use only official sites. Real HUD approved counseling is free. If someone asks you to pay for an application, walk away.