What are you planning to do with your tax refund this year? How about buying a home with it in Eau Claire or Altoona?
Your 2018 tax refund can help you overcome the biggest barrier to owning a home - down payment. At Hillcrest Estates in Altoona and Villa Diann in Eau Claire, our homes have very affordable prices where your tax refund can make a big difference. Check out our homes here.
How Much Down Payment Do I need?
Brand new 3-bedroom homes at Hillcrest Estates and Villa Diann start at around $50,000. Typically, lenders require down payment of 5% to 15%. This means that $2,500 to $7,500 wlll be the down payment. The lenders determine the exact amount based on your income and credit score. The best way to find out your down payment requirement is to pre-qualify with our lenders. That way you will know exactly how much you will need to put down along with loan terms. Application process is very easy and we can provide it in our office.
How Much Will My Refund Help?
Average tax refund in Wisconin in 2017 was $2,380. For many people, tax refund can be a big part of their down payment on new homes in our communities. If you have a decent income and credit, this amount can cover most of the down payment. If you are expecting a larger refund, it will be an even bigger help. For some, their tax alone refund can cover all of the down payment and fees for buying a home in our communities.
When Should I Apply for Financing a Home?
As mentioned earlier, it is best to get started with loan appliation to get pre-qualified for a loan. Once pre-qualified, you will know be able to plan your purchase and move. You will know which home you can buy and how much you will need as down payment. Pre-approvals are usually good for 60 days and often can be extended.
Contact us today to get your pre-qualification!
What If Our Tax Refund is Not Enough?
If you still don't have enough with your tax refund and savings, here are some alternative ways: In all of these cases, knowing your loan terms and required down payment through prequalification will help you plan your purchase.
- Saving: If you don't have enough yet, you can plan your savings to meet the required down payment.
- Retirement Account: Many retirement accounts allow you to make early withdrawl for first-time home purchse
- Gift from Family & Family: Lenders allow gift from friends and family to be used for down payment.
Get started today. Contact us at 715-834-6802 to view our homes and get pre-qualified!