5 Reasons To Use Your Tax Refund To Purchase A Home

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$16,769.13 – that’s how much Bob saved by purchasing his first home in 2015. That is 16,769 reasons to stop what you’re doing, pick up the phone, and give us a call. Bob didn’t think he could ever own a home, but he had heard that his tax refund could be applied towards a down payment. If 16,769 reasons still don’t convince you, here are 5 more.

Homeowner Tax Refund

  1. Show me the money: Owning a home may be one of the biggest tax breaks you will ever receive. The mortgage interest you pay the first year, as well as your property tax, could both be tax deductible.
  2. Pretty colors: One of the best parts about owning your own home, is decorating to match your personal style. That means you can paint every one of your walls pink, and no one could do anything about it.
  3. But wait, there’s more?: Did you know that each year your rent can increase as high as 2%? Instead of paying your landlord’s mortgage, buy a home and pay a fraction of the cost.
  4. Your furry little friend(s): No more pet deposits and no more angry landlords. You can enjoy the company of your furry friends in your very own home.
  5. Build equity like a boss: With home prices steadily rising. If you bought a home for $220,000 and it rises to $250,000 in five years, then you will have $30,000 more equity… like a boss.

2016 is the year where you invest in yourself. There are many benefits of buying a home, to find out all of them, reach out to your local Summit lender today.Find a loan officer