stability

Feb 02 2024

There’s No Foreclosure Wave in Sight

Some Highlights

Headlines saying foreclosures are rising might make you feel uneasy. But the truth is, there’s no need to worry.
If you look at the latest numbers, they’re still below pre-pandemic norms and way below what happened during the crash.
If you’re worried about a flood of foreclosures, the data shows a foreclosure crisis is not where the market is today and is not where it’s headed.

If you’re getting a tax refund this year, here’s something worth thinking about. That money could actually help you get closer to buying a home.

It may not be something you’ve factored into your plan yet, but it can give your savings a nice boost right when you need it most. And whether your refund is a few thousand dollars or more, there are some smart ways to put that money to work as you get ready to buy.

Your Refund May Be Even Bigger This Year

Let’s start with the good news. People are getting even more money back in their refunds than they did last year. The visual below uses data from the Internal Revenue Service (IRS) to show the average individual’s refund is 11.1% higher this year:

Of course, your exact refund will vary. But any extra money you get is a good thing, especially when affordability is still tight.

How You Can Use Your Tax Refund

So, how can you put that money to work? Here are a few smart ways to use your refund when buying a home, according to Freddie Mac:

Put it toward your down payment. Data shows saving for a down payment is one of the biggest hurdles for first-time homebuyers. Using your refund can help you build that up faster. And the good news? You may not need to put as much down as you think.
Use it for your closing costs. Closing costs usually range from about 2% to 5% of the home’s purchase price. Using your refund here can make things feel a lot more manageable on closing day.
Lower your mortgage rate. You may have the option to buy down your mortgage rate. That means paying a little more upfront to get a lower monthly payment. If you’re looking for ways to make the numbers work a little better, this is something that could be worth asking about.

You Don’t Have To Figure This Out Alone

If you have a tax refund coming, it’s a great time to take another look at your homebuying savings. Maybe you’re almost at your goal and you can buy sooner than you expected.

A trusted real estate agent and lender can help you map out what you need, what your options are, and how to make the most of what you already have, including your tax refund.

Bottom Line

If buying a home is on your radar this year, don’t overlook your tax refund. It could be the extra push that helps you go from almost there to actually ready.

Want to see how far your savings could take you right now? Talk with a local real estate agent and build a plan that fits your situation.

Getting a Tax Refund? Here’s How It Can Help You Buy a Home April 15, 2026
If you’re getting a tax refund this year, here’s something worth thinking about.
Wondering If You Should Still Buy a Home Right Now? Here’s What To Keep in Mind. April 13, 2026
With economic headlines, global events, and near constant talk about affordability, you may be wondering if this is the right time to move.
When Buying a Home Feels Out of Reach, Some Families Do This Instead April 9, 2026
For a lot of people, the math on buying a home just doesn’t really work right now.
Thinking About an Adjustable-Rate Mortgage? Here’s What You Need To Know. April 8, 2026
If you’ve been looking for a home lately, you’ve probably felt how tough affordability still is.
Your House Hasn’t Sold Yet. Should You Rent It Out Instead? April 6, 2026
When your house sits on the market longer than expected, it can get frustrating fast.

stability

Some Highlights

Footer

Find a Home In Las Vegas Weekly News You Can Use