Key Takeaways:
- You can take advantage of this global pandemic era by using economic impact payments to put you one step closer to homeownership.
- Your down payment may not be as much as you think, especially for first-time homebuyers.
- Contact Ann Milton Realty, or call us at 910-814-1012, to discuss how you can use this year’s tax refunds and stimulus checks toward your next home’s down payment.
Here’s How You Can Reach Your Homeownership Goals
Living in the midst of a global pandemic means more than just wearing a face mask; it also calls for the disbursement of stimulus checks. Plus, it is everyone’s favorite time of the year: tax season! The good news is that tax refunds and stimulus checks could help you reach your homeownership goals sooner than you may have originally expected.
Here’s what you need to know about down payments
When you’re looking into purchasing a home, one of your biggest concerns is the down payment, especially for first-time homebuyers. It’s important to understand how much you’ll need to put down and how that amount affects your home-buying budget. Thanks to additional assistance from tax refunds and stimulus checks, the home-buying process may move quicker than you think.
What if we told you that your down payment isn’t as much as you think?
There is a common misconception that you need a 20% down payment to purchase a home. In reality, many first-time buyers can purchase a home with as little as 3% down. In 2021, Americans can expect an average tax refund of $2,925, on top of multiple economic impact payments. These funds could cover more of a down payment than you realize, which means saving for a 3% down payment doesn’t have to take several years.
Achieve Your Homebuying Goals with Ann Milton Realty!
Combining funds from this year’s tax refund and stimulus checks could add up big for your home-buying goals. Here at Ann Milton Realty, we love seeing your dreams become reality—connect with us today to discuss how to use these key savings to make smart home-buying decisions.