Why Today’s Housing Inventory Shows a Crash Isn’t on the HorizonYou might remember the housing crash in 2008, even if you didn't own a home at the time. If you’re worried
GETTING A TAX REFUND? HOW CAN IT HELP YOU BUY A HOME?
Dated: April 17 2023
Views: 43
Your Tax Refund Can Help You Achieve Your Homebuying Goals
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. The map below provides a more detailed estimate by state:
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:
- 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.
The best way to prepare to buy a home is to work with a trusted real estate professional who understands the process. They’ll help you navigate the costs you may encounter as you begin your homebuying journey.
Bottom Line
Your tax refund can help you reach your goals of homeownership. Let’s connect to discuss how you can start your journey today.
eXp Realty in Oregon and its technology provider, Inside Real Estate, fully support the principles of the Fair Housing Act (Title VIII of the Civil Rights Act of 1968), as amended, which generally prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents of legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability). As an adjunct to the foregoing commitment, both eXp Realty in Oregon and Inside Real Estate actively promote, and are committed to, creating and fostering an environment of diversity throughout their respective organizations and franchise systems, and each views such a concept as a critical component to the on-going success of their business operations.
Donna Meeuwsen
I'm proud to be from the Pacific Northwest and have seen this Oregon and SW Washington transform from a hidden gem to a shining star! Growing up here, I know every nook and cranny of this beautiful re....
Latest Blog Posts
Buyer Traffic Is Still Stronger than the NormAre you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know:
Don’t Expect a Wave of Foreclosures Some HighlightsWith ongoing high inflation pushing up everyday costs, some people are worried that'll create a flood of foreclosures. Here's
Sellers: Don’t Let These Two Things Hold You BackMany homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher
© 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Information deemed to be reliable but not guaranteed. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Only IDX residential listings are displayed on this site. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose
All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by RMLSTM.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLSTM of Portland, Oregon. Real estate listings held by brokerage firms other than RE/MAX equity group are marked with the RMLSTM logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2023 RMLSTM, Portland, Oregon.
This content last updated on October 4, 2023 7:56 AM UTC at 4 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
All information is subject to change, is deemed reliable but is not guaranteed, and should be independently verified.The information being provided is for consumers' personal, non-commercial use and may not be used for any otherpurpose other than to identify prospective properties consumers may be interested in purchasing. Copyright ® 2023, Montana Regional Multiple Listing Service, Inc. (MRMLS) and FBS. All Rights Reserved.
Information provided Courtesy of San Antonio Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed. Provided courtesy of the San Antonio Board of Realtors. Copyright 2023 San Antonio Board of Realtors, All Rights Reserved. Data last updated October 4, 2023 4:34 AM UTC
