Do You Need 20% Down to Buy a Home?

Do you Need 20% Down to Buy a Home?

Tristan and his WHITEBOARD - LIVE!

Hi everybody, this is Tristan Emond with Mindful Living Realty.

Welcome back to Tristan and his WHITEBOARD - LIVE.

Here again with Angelia Dale with Gateway Mortgage.

Today we're going to talk about something that's kind of prevalent in the mortgage industry, especially.

It's the thought form that you have to have 20 percent down to buy a home.  And hey - who has that kind of money anymore? I mean, if you do, you know, you can bring my way...

Anyway, so this question is: "Do you really need 20 percent down to buy a home in today's market?"

You don't!  So, there are...we have our conventional loans which you can do 5% down.

You can do the government loans which require zero to three and a half percent down.

There's a lot of different options.  Which, you really want to talk to the loan officers.  "Okay what program best fits?"

If you don't have the assets, we have South Dakota Housing for first-time homebuyers which can help with a down payment.

Or if you have 20% down, you won't have mortgage insurance on a conventional loan.

There's a whole bunch of variety of options.

But you DO NOT have to have 20% down to buy a house.

All right! So basic storyline here is, don't be afraid to contact your mortgage broker and say "Hey this is what I've heard.  What can I do?  what can I afford?"  And go from there.

Yeah! There are many options.

Sounds good, thank you!  Talk to your mortgage broker and we'll see you next time on Tristan and his WHITEBOARD!

:)


- Tristan


Angelia Dale legal info:
Angelia Dale, Loan Originator, NMLS #175544
Gateway Mortgage Group
Rapid City, SD
605-490-2246
angelia.dale@gatewayloan.com

Gateway Mortgage Group is a registered service mark of Gateway Mortgage Group, LLC NMLS 7233. All loans subject to program guidelines and final underwriting approval. Contact local branch for details. 1301 W Omaha St #118, Rapid City, SD 57701. South Dakota Mortgage Lender License #ML.05071.

Home Insurance on the Home You Bought - Tristan and his WHITEBOARD

New and Shiny Release!

Tristan and his WHITEBOARD Episodes #10.1 and #10.2

Home Insurance on the Home you Just Bought!

This week, Tristan and his WHITEBOARD go into the Home Insurance stage of the home buying process.  We've got the home inspection in progress - you also need to get on the phone with your insurance professional and make sure you can get your home insured properly!

In Episode #10.1 - we cover home insurance as it relates to the purchase agreement - time frames, what to look for, getting it done before closing.

Episode #10.2 is the fun one where I comment on 6 insurance red flag issues.  These are things I know some insurance companies may not cover or will need more money to insure.  Very important to know this kind of stuff while looking at the home.

I had fun with this week's graphic - hopefully it made you smile!

There is no sense staying in the dark when it comes to the home buying process.  Tristan and hisWHITEBOARD are here.  {insert hero da-da-da-da! clip here}

SEE YOU AT THE WHITEBOARD

New Rapid City Real Estate Video Series - Tristan and his WHITEBOARD!

It's begun.

I've been thinking and working on this project for a long time.

I'm excited to finally release...


wait for it...

Tristan and his WHITEBOARD

(spoken in a loud announcer voice, of course)

This video series will highlight the Rapid City home buyer and home seller process...from the thinking about it stage all the way through closing.

I share stories, I make bad drawings - I even sang...once.

We'll start out with the Buyer's Series and release new episodes each week!  This week, episodes 1 and 2, I lay out my #1 home buying planning tip and then draw lots of arrows talking about the best home search websites.

Come on in and join the fun!

If you're thinking about buying that Rapid City home or selling your Rapid City house, I'm laying out the information for you to dissolve some fears and get you started in the process!

It's GO time!

http://rapidcityhomes.net/tristan-and-his-whiteboard

See you at the WHITEBOARD!!