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Noel Veitia

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305-851-5225 nveitia@dgpinnacle.com

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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?

Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Some Highlights: The average down payment for first-time homebuyers is only 6%! Mortgage interest rates have been on the decline since November! Hop in now to lock in a low rate! 88% of property managers raised their rents in the last 12 months! The average credit score on approved loans continues to fall across many loan types!

April 18th, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, infographic, interest rates, Move-Up Buyers, Pricing, Rent vs Buy, Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Your Tax Refund Is The Key To Homeownership!

According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $3,143 this year when filing their taxes. This is down slightly from the average refund of $3,436 last year. Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals. For anyone looking to buy a home in 2019, this can be a great jump start toward a down payment! The map below shows the average tax refund Americans received last year by state. Many first-time buyers believe that a ...

March 28th, 2019 | Down Payments, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Your Tax Refund Is The Key To Homeownership!

3 Tips for Making Your Dream of Buying A Home Come True [INFOGRAPHIC]

Some Highlights: Setting up an automatic savings plan that saves a small amount of every check is one of the best ways to save without thinking too much about it. Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back. What are you willing to cut back on to make your dreams of homeownership a reality?

February 26th, 2019 | Down Payments, First Time Home Buyers, For Buyers, infographic, 3 Tips for Making Your Dream of Buying A Home Come True [INFOGRAPHIC]

One More Time… You Do Not Need 20% Down to Buy a Home

The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each month after paying expenses.   In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment! According to the “Barriers to Accessing Homeownership” study commissioned in partnership between the U...

February 5th, 2019 | Buying Myths, Down Payments, First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, One More Time… You Do Not Need 20% Down to Buy a Home

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