Tax season is here, and if you’re expecting a refund, why not put it toward building wealth through homeownership? Here are smart ways to use your tax refund to achieve your home goals!

Buying a Home? Use Your Refund for:

✔ Down Payment Boost – Even a few thousand dollars can help you qualify for better loan options. FHA loans require as little as 3.5% down, and some programs allow for even lower!
✔ Closing Costs – Cover expenses like appraisal fees, title insurance, and escrow deposits to reduce out-of-pocket costs.
✔ Mortgage Rate Buydown – Use your refund to “buy down” your interest rate, lowering your monthly payment.
✔ Earnest Money Deposit – Show sellers you’re serious about purchasing by using your refund for a strong deposit.
✔ Home Inspection & Moving Costs – Help cover the cost of essential pre-purchase inspections or moving expenses.

🔨 Already a Homeowner? Invest in Your Home!

✔ Pay Down Your Mortgage – Make an extra principal payment and save on interest over time.
✔ Renovations & Upgrades – Refresh your home with a kitchen update, new flooring, or an outdoor patio.
✔ Energy-Efficient Improvements – Upgrade to energy-saving appliances, solar panels, or better insulation to lower utility bills.
✔ Emergency Home Fund – Set aside funds for unexpected repairs like a leaky roof or broken A/C.
✔ Refinancing Costs – Use your refund to cover fees associated with refinancing to a lower mortgage rate.

Make Your Tax Refund Work for You!

If you’re thinking about buying, refinancing, or investing in your home, Tidewater Mortgage Services can help you make the most of your tax refund! Contact us today to explore your options.