Build your dream home on these lots located University Drive in Lancaster. Purchase together to own .75 acres! Contact me for more info 803-567-LIST.
It’s that time of the year again –TAX SEASON! After filing and receiving a return, you may find yourself with extra dough in your hands. Let’s face it – most people end up spending their refunds quickly on things that they do not “need”. Don’t let that be you. If you are a homeowner or have goals to become a homeowner in the future, here are some tips on how you can use your refund for your benefit.
Use as Down Payment
Your tax return can be an excellent source for your down payment. FHA loans only require 3.5% down. Example, if you plan to purchase a $100,000 home you will only need $3500 for a down payment. Saving your return for down payment will be wise if you are choosing this type of loan.
Did you know that you can purchase money with no money down in rural areas? Contact me for more info.
Pay Off High-Interest Debt
This is it – an opportunity to increase your credit score. Paying off high interest debts will increase your credit score and also improve your debt-to-income ratio. This will allow you to meet the lender requirements for a home loan.
580 – that’s the score you need to qualify FHA loan. Let’s get you pre-qualified today.
Save for Closing Costs
When purchasing there will be additional cost such as inspection fees, appraisals, deed recording fees, title fees, etc. You want to make sure you have the funds available for these cost. Set your tax return aside in your savings account to show your lender you have the funds to close your loan.
Pre-pay your Mortgage
If you already own a home, making extra payments on your mortgage can be a great way to save money over the long term. Because so much of your payment on a long-term note goes to pay off the interest, reducing the principal can have an exponential effect over the life of the loan. Just an extra payment or two now can make a huge difference in your future obligation to the bank.
Make Home Improvements
If you live in an older home, spending some of your refund around the house can lower energy bills. Replacing old windows can improve the efficiency of your A/C in the summer and reduce the electric bill. Old appliances can be replaced with models that use less energy. Lower energy costs can even be used as a tax credit for next year’s refund.
Also, if your kitchen or bathroom is outdated, a remodeling project can not only improve the functionality of your house now but also make it more attractive when you decide to sell.
If you are interested selling your home. Contact me today!
Your refund should feel like “found money” – and if you’re smart, you can put it to work for you and improve your situation as a current homeowner or help you reach the goal of homeownership.
Back on the Market! 2843 Rolling Hills Rd Lancaster SC MLS 3318859 $145,000
Back on the market at absolutely no fault of the seller! Repairs complete and move-in ready!
Beautiful home with lots of character and charm! Almost an acre lot in peaceful neighborhood. Enjoy a country setting but still have the presence of neighbors and community. Landscaped to perfection. Lots of space for gatherings and memory making. Other features included walk-in closets, above ground pool, covered front porch and breakfast bar. Don’t miss out! Schedule a showing today!
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Great investment or starter home opportunity! Cute home with historic features. Formal Living and Dining rooms. Hard wood flooring and fireplaces. Lots of storage and cabinets in kitchen. Corner lot. Large front and fenced back yard with beautiful rose bushes and pecan trees. Brand new HVAC system. Conveniently located to town. Schedule a showing today!
Adorable home with split bedroom plan in the East Park subdivision of Lancaster. Convenient to shopping, dining and schools. Laminate floors and vinyl bathrooms. 100% financing available with USDA loan. Ready for a new homeowner! Schedule a showing today!
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4 Acres! Cute home with lots of land! Large Den! Easy commute to neighboring towns. Priced to sell. Schedule a showing today!