Sounds like the perfect have your cake and eat it too scenario. With new tax law changes in 2017, you can finally do just.
If you decide paying down your mortgage is the best way to spend your tax refund, there are two different ways to do it: Refinance your loan: One way to put your tax refund to use is to refinance your home loan. Refinancing your loan means replacing your existing mortgage with a new loan for the amount you currently owe. If you use your tax.
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You may be able to use your tax refund as a down payment to buy a home. With our low down payment home loans, even a small refund can be enough to help you become a home owner. Low down payment home loans include the following options: 1% Down Conventional Loans; USDA Zero Down mortgage; VA Loan with No Down Payment; FHA Loans with a 3.5% Down Payment
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How to Buy Your First House – Quicken Loans Zing Blog. the credit unless you stop using the home is your primary residence within three years. tax deductions aren't money you get back on your refund, but they do reduce.
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If for some reason you cash the tax refund check, we can only use that money for a down payment if you deposit it into your account within 60 days of closing. Thousands of Dollars, Years of Memories Consider purchasing a home with this year’s tax refund.
Tempting as it may be, a new TV or much-deserved vacation might not be the smartest use of your tax refund. (Although they might be the most fun.) If you’re toying with ideas on how to spend your tax refund, you might want to make use of your tax windfall by making a few home upgrades instead.
There’s no place like home, and given the price people pay for their split-level ranches, Cape Cods and condos, keeping the place in tiptop shape is a wise use of tax refund dollars.
If your priority is to buy a new home, then take the road towards homeownership; use your tax refund to grow your down payment fund. Having Enough for a Down Payment May Not Be Your Only Obstacle. If you’ve been struggling to put together a down payment, you might need to take a closer look at your finances to determine if you really are.