4 Ways To Use Your Tax Refund To Invest In Real Estate

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Did you know that the average Tucson resident receives $3500 + for a tax refund? Make that money work for you and invest in real estate! Here are 4 ways you can use your. money to work for you in regards to real estate investing:

  1. Use the money as a down payment. It is a common misconception that you need 20% as a down payment. That is not true! For an FHA loan, you need 3.5% down, for a conventional loan, you need 3% down, and for a VA loan, you need 0% down. I can get you in touch with some lenders to discuss which loan option would suit your needs best.
  2. Use your money for closing costs. Closing costs are the title and lender fees and typically run 3% of the cost of the home. For example, if you buy a $200,000 house, your closing costs will be around $5k-$6k.
  3. Use your money to buy down your interest rate. Rates were around 3% in February 2022 and now they are hovering around 7%. You can buy down your interest rate to make your monthly payment more affordable.
  4. Use your money to pay someone to help you move!

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