{"id":555,"date":"2020-03-02T15:56:25","date_gmt":"2020-03-02T15:56:25","guid":{"rendered":"http:\/\/phphouses.com\/blog\/?p=555"},"modified":"2020-03-02T15:56:25","modified_gmt":"2020-03-02T15:56:25","slug":"tax-refund-can-move-toward-homeownership-year","status":"publish","type":"post","link":"https:\/\/phphouses.com\/blog\/tax-refund-can-move-toward-homeownership-year\/","title":{"rendered":"How Your Tax Refund Can Move You Toward Homeownership This Year"},"content":{"rendered":"
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Portrait of an excited woman reading good news in a letter at home<\/p><\/div>\n

If you\u2019re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Homeownership may be one step closer than you think if you spend your dollars wisely this year.<\/p>\n

Based on data released by the\u00a0Internal Revenue Service\u00a0<\/em>(IRS), Americans can\u00a0expect\u00a0an estimated average refund of\u00a0$2,962<\/a>\u00a0when filing their taxes this year.<\/p>\n

The map below\u00a0shows<\/a>\u00a0the average tax refund Americans received last year by state:<\/p>\n

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Average Tax Return by State<\/p><\/div>\n

According to programs from the\u00a0Federal Housing Authority, Freddie Mac,\u00a0<\/em>and\u00a0Fannie Mae,\u00a0<\/em>many first-time buyers can purchase a home with as little as 3% down. Truth be told, a 20%\u00a0down payment<\/a>\u00a0is not always required to buy a home, even though that\u2019s a common misconception about homebuying.\u00a0Veterans Affairs Loans<\/em>\u00a0allow many\u00a0veterans<\/a>\u00a0to\u00a0purchase\u00a0a home with 0% down.<\/p>\n

How can my tax refund help?<\/strong><\/h4>\n

If you\u2019re a first-time buyer, your tax refund may cover more of a down payment than you ever thought possible.<\/p>\n

If you take into account the\u00a0median home sale price<\/a>\u00a0by state, the map below shows the percentage of a 3% down payment that\u2019s covered by the average tax refund:<\/p>\n

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What Percentage of a 3% Down Payment to Buy a House is Covered by the Tax Return<\/p><\/div>\n

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The darker the blue, the closer your tax refund gets you to homeownership in one of these programs.\u00a0Maybe this is the year to plan ahead and put your tax refund toward a down payment on a home.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Saving for a down payment can seem like a daunting task, but the more you know about what\u2019s required, the more prepared you\u2019ll be to make the best decision for you and your family. This tax season, your refund could be your key to homeownership.<\/p>\n<\/div>\n<\/div>\n<\/article>\n

 <\/p>\n

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\nUnit 1030
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\nFax:\u00a0(407) 205-1951
\nemail:\u00a0info@phphouses.com<\/p>\n

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If you\u2019re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Homeownership may be one step closer than you think if you spend your dollars wisely this year. Based on data released by the\u00a0Internal Revenue Service\u00a0(IRS), Americans can\u00a0expect\u00a0an estimated average refund of\u00a0$2,962\u00a0when filing their taxes… Finish Reading How Your Tax Refund Can Move You Toward Homeownership This Year<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[36],"tags":[59,38,15,10,18,27,91,86,52,32,83,49,42,23,12,13,19,17],"_links":{"self":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/555"}],"collection":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/comments?post=555"}],"version-history":[{"count":1,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/555\/revisions"}],"predecessor-version":[{"id":559,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/posts\/555\/revisions\/559"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media\/558"}],"wp:attachment":[{"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/media?parent=555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/categories?post=555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phphouses.com\/blog\/wp-json\/wp\/v2\/tags?post=555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}