Your Tax Refund

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Real Estate

Your Tax Refund Can Get You One Step Closer to Home Ownership


Saving money each month toward a long-term goal is increasingly difficult for
most people. Even committed savers can get thrown off track when unexpected
problems or opportunities arise. It can be difficult to envision how $200 a month
can add up to a new home; the dream of home ownership continues to get
pushed back in favor of more immediate needs.


For many of these potential home buyers, their tax refund can be a big step
forward in their saving goals. Received in a lump sum, a tax refund is easier to see
as a meaningful dollar amount. The average IRS refund in 2019 was almost
$3,000. This, added to an already growing savings account, can be a great bonus.


In addition to adding to your down payment fund, a tax refund can also be used
to increase your credit score. Debt accumulation and use is the largest factor in
determining a borrower’s credit score (FICO). A low FICO score can result in
thousands of extra dollars in interest and origination fees when getting a home
loan. Working with a lender, strategically reducing the debt ratio can add
borrowing power to a potential buyer; lowering the cost of the loan and allowing
more of the monthly payment to go toward the home itself instead of interest.


It’s tax refund time. Before you head to the electronics store to put that money
toward a bigger TV, consider how your tax refund can help you achieve your
home ownership goals.

This spring selling season has proven to have unique circumstances –

please contact Jaime Hayes Homes at 📞916.947.2809 or 📧 Jaime@JaimeHayes.com

to learn more about the current outlook and opportunities in your local market.