Rockwell Group said on Apr. 19 that tax refunds could play a key role for people looking to buy homes in Oregon and Arizona this year.
With affordability still a concern for many buyers, the company said extra funds from tax refunds may help with down payments, closing costs, or reducing mortgage rates. The group noted that average individual tax refunds are up by 11.1% compared to last year, according to data from the Internal Revenue Service (IRS).
“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,” the company said.
The group explained that loan programs often allow down payments as low as three to five percent and some offer assistance programs. They also pointed out that spring is typically an active season for real estate with more inventory available across Medford, Grants Pass, other parts of Oregon, and Arizona.
Rockwell Group advised potential buyers to consult local lenders and real estate agents after receiving their refund: “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.”
The company concluded by encouraging those considering homeownership not to overlook their tax refund as part of their savings strategy: “It could be the extra push that helps you go from almost there to actually ready.”
