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The Best Way to Use Your Tax Refund

February 26th, 2019 by Inlanta Staff

A Down Payment on a New Home is the Best Option for your Tax Refund!

The tax season is well underway.  If you are receiving a refund, have you planned what you are going to do with it?  Utilizing your tax refund towards the purchase of a new home is a great long-term investment.  Typically, there is a minimum down payment of 3.5-5% on the purchase of a primary residence. The thought of this large down payment is one of the biggest challenges for home buyers to overcome.

One benefit of tax season is being able to utilize your IRS or State tax refund for a down payment. In some cases a refund is also helpful to pay off outstanding debts or credit cards to improve credit or qualify for a larger mortgage.  The most important step is start a conversation, where we can review your situation to know the best way for you use your refund and get you closer to a new home.

Mortgage Payments Can be Less Than Renting & You are Building Your Equity/Net Worth

Get started with the home buying process before Spring Market.  The competition, sales prices and interest rates increase throughout the year and can effect how much you are able to afford.