As tax season is in full swing, it’s important to remember the deadline for filing your taxes! For most taxpayers, the due date falls on April 15, 2025. Missing this deadline can result in penalties and interest, so be sure to file on time or request an extension if needed.

What Can You Do With Your Tax Refund?

If you’re receiving a tax refund this year, it can be a great opportunity to take a step toward homeownership! Here are a few smart ways to use your refund when buying a home:

1. Boost Your Down Payment – One of the biggest hurdles to homeownership is saving for a down payment. Your tax refund can help cover or supplement the required amount, making it easier to qualify for a mortgage.

2. Cover Closing Costs – Purchasing a home comes with additional expenses like closing costs, which typically range from 2% to 5% of the home’s purchase price. A tax refund can help alleviate these upfront costs.

3. Pay Down Debt to Improve Your Credit Score – Lenders look at your debt-to-income (DTI) ratio when approving a loan. Using your refund to pay off credit cards or loans can improve your financial profile and help you secure better mortgage terms.

4. Start a Home Emergency Fund – Owning a home means being prepared for unexpected expenses. Setting aside part of your refund for future repairs or maintenance can provide peace of mind.

Ready to Buy a Home? Let’s Get You Pre-Approved!

If you’re considering purchasing a home this year, now is the perfect time to get pre-approved. As a local, trusted mortgage broker, I specialize in helping homebuyers in Northern California/ Sacramento Areas, Vacaville, Fairfield, Dixon, Suisun City, Vallejo, Benicia, and other surrounding areas in Solano County. I can help you navigate the loan options that best fit your financial situation and goals.

Let’s put your tax refund to work for you and get you one step closer to homeownership! Contact me today to discuss your home-buying journey.

Jeanine Nucum Local Mortgage Broker

Visit my website: https://www.jnucumhomeloans.com/ for more details!