A lot of people will wait to get a tax refund and then use that for a down payment on a new home… which is a great strategy and NOTHING wrong with that BUT if you’re not getting a refund, haven’t filed yet (like me), or just have other plans for that money- you can still buy a home without it because there are several down payment assistance programs out there, below are just a few of them provided by Lanie Martin of Guild Mortgage.
Six years ago I wrote a blog https://www.integrityallstars.com/are-you-currently-renting-now-really-is-the-time-to-buy-get-off-that-fence-before-you-miss-the-bus/ showing the tax savings of owning a home or basically the net effective payment after those savings are taken into consideration- What I mean by that is if you’re renting a home you may not realize that the equivalent rent vs mortgage payment can be substantial. Mind you I wrote this blog in 2010, when the market was in the barrels of the “downturn” and prices have come up quite a bit- but not the rates, in fact they are just about the same as they were back then… which is great news.