According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $3,143 this year when filing their taxes.
This is down slightly from the average refund of $3,436 last year.
Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals.
For anyone looking to buy a home in 2019, this can be a great jump start toward a down payment!
The map below shows the average tax refund Americans received last year by state.
Many first-time buyers believe that a 20% down payment is required to qualify for a mortgage.
Programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae all allow for down payments as low as 3%. Veterans Affairs Loans allow many veterans to purchase a home with 0% down.
In Nashville, the Tennessee Housing Development Agency will give you a grant for the 3% down payment and closing costs if you qualify.
You can get into a new home with $0 down payment and normally less than $1500 out of pocket.
Get Started Today
Utilize your tax return to get into a home of your own.
It’s often times not as difficult as you think it would be.