Housing Market Update
Uses for a Tax Return
- If your goal is to own a home, your tax return can help you, as you want to act fast due to historically low mortgage rates
- Starting or increasing an emergency fund to keep an unforeseen emergency from crippling you financially
- Pay high interest debts, as the more debt you pay off, the better your debt-to-income ratio will be
- Pay toward your mortgage loan as additional payments to the principal balance of your loan will help pay it off faster
- Consider a cash out refinance which could save you thousands of dollars per year, lower your monthly payments, or shorten the term of your loan
- Make home renovations. Concentrate on the main systems to increase the value of your home
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