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HOUSING UPDATE

Have you been saving up to buy a home this year? If so, you know there are a variety of expenses involved – from your down payment to closing costs But there’s good news –your tax refund can help you achieve your goals by paying for some of these expenses.

SmartAsset estimates the average American will receive a $1,798 tax refund this year.

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Your tax refund can help you reach your goals of homeownership Homeownership is the largest source of wealth among families with the median value of a primary residence worth about ten times the median value of financial assets held by families

Saving for a down payment – One of the largest barriers to homeownership is saving for a down payment. You could reach your savings goal more quickly than expected by using your tax refund to help with your down payment

Paying for closing costs – You have to pay fees to your lender, real estate agent, and other parties involved in the homebuying transaction before you can officially take ownership of your home. You could direct your tax refund toward these closing costs.

Lowering your interest rate – Your lender might give you the option to buy down your mortgage interest rate during the homebuying process. That means, you could pay upfront to have a lower interest rate on your fixed-rate mortgage

According to Freddie Mac, there are multiple ways your refund check can help you as a homebuyer. If you’re getting a refund this year and thinking about buying a home, here are a few tips to keep:

The best way to prepare to buy a home is to work with us, as real estate professionals, we understand the process. We'lll help you navigate the costs you may encounter as you begin your homebuying journey.

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When you call us a personal advisor will review your credit profile to determine how our program will effectively increase your credit scores.

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