With interests rates still low and the great selection of homes on the market right now it only makes sense that this spring is a perfect time to buy your new home. Not only that but as I’m sure you have heard that often times a house payment is actually less than your current rent payment. The issue that many of us run into is having enough money for the down-payment on a new home. This is especially true for first time home buyers who have not built up equity in their current home. This is why this spring is ideal for buying since you can use your tax refund for a down payment this year! Even if your refund is not a huge one it will probably still be enough. Many people mistakenly think that you need to have a 20% down payment on a home when in fact many lending companies only require 5% as a down payment amount. By using this tax refund money you could also qualify for a larger home or more importantly allow for smaller monthly payments because you are taking out a smaller mortgage.
So take advantage of this time of year and start looking for your new house today. If you have questions as to what you can afford with your tax refund or what the next step is that you need to take feel free to contact us today! We look forward to helping you fulfill your dreams of home ownership!