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Noel Veitia

NMLS ID 277729

305-851-5225 nveitia@dgpinnacle.com

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What You Need to Know About the Mortgage Process [INFOGRAPHIC]

Some Highlights: Many buyers are purchasing homes with down payments as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Your local professionals are here to help you determine how much you can afford, so take advantage of the opportunity to learn more.

October 17th, 2019 | Down Payments, First Time Home Buyers, For Buyers, infographic, Move-Up Buyers, What You Need to Know About the Mortgage Process [INFOGRAPHIC]

62% of Buyers Are Wrong About Down Payment Needs

Contrary to common misconception, a down payment is often much less than many believe. According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.” When potential homebuyers think they need a 20% down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up...

October 14th, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, 62% of Buyers Are Wrong About Down Payment Needs

A Latte a Day Keeps Homeownership Away [INFOGRAPHIC]

The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast! Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a day from your favorite coffee shop) will help you get there faster. Depending on where you live, putting away just a small amount each day will get you to the average down payment you may need for homeownership faster than you think.

August 29th, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, infographic, Move-Up Buyers, A Latte a Day Keeps Homeownership Away [INFOGRAPHIC]

How Much Do You Know About Down Payments?

Whether you’ve owned a home before, or you’re ready to jump into homeownership for the first time, there are always a lot of questions swirling around about what is truly required for a down payment, and how to best source down payment assistance. Let’s tackle these two today. 1. How much do you really need for a down payment? There is a long-standing misconception about down payment requirements. A survey from Fannie Mae shows only 17% of consumers know the minimum options are actually between 1 – 5% of the purchase price and 40% don’t k...

August 6th, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, How Much Do You Know About Down Payments?

The Benefits of a 20% Down Payment

If you are in the market to buy a home this year, you may be confused about how much money you need to come up with for your down payment. Many people you talk to will tell you that you need to save 20% or you won’t be able to secure a mortgage. The truth is that there are many programs available that let you put down as little as 3%. Those who have served our country could qualify for a Veterans Affairs Home Loan (VA) without needing a down payment. These programs have cut the savings time that many families would need to compile a large down payment from ...

May 14th, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, The Benefits of a 20% Down Payment

How Quickly Can You Save Your Down Payment?

Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state. Using data from HUD, Census and Apartment List, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly...

May 1st, 2019 | Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, How Quickly Can You Save Your Down Payment?

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