[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f3m6qii5gaqoti":3,"$ffeh0925h8cuz":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":31,"next":37},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":30},1855,"your-tax-refund-and-stimulus-savings-may-help-you-achieve-homeownership-this-year","Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year","If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F04\u002F01141546\u002F20210405-KCM-Share.jpg","If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund.\u003C!--more-->\r\n\r\nUsing data from the \u003Cem>Internal Revenue Service \u003C\u002Fem>(IRS), it’s estimated that Americans can expect an average refund of \u003Ca href=\"https:\u002F\u002Fsmartasset.com\u002Ftaxes\u002Ftax-return-calculator?year=2021#us\u002FtaxReturn\">$2,925\u003C\u002Fa> when filing their taxes this year. The map below \u003Ca href=\"https:\u002F\u002Fsmartasset.com\u002Ftaxes\u002Ftax-return-calculator?year=2021#us\u002FtaxReturn\">shows\u003C\u002Fa> the average anticipated tax refund by state:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F04\u002F20210405-MEM-Eng-1.png\">\u003Cimg class=\"aligncenter wp-image-44134\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F04\u002F20210405-MEM-Eng-1.png\" alt=\"Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>Thanks to programs from the \u003Cem>Federal Housing Authority, Freddie Mac, \u003C\u002Fem>and\u003Cem> Fannie Mae, \u003C\u002Fem>many first-time buyers can purchase a home with as little as 3% down. In addition, \u003Cem>Veterans Affairs Loans\u003C\u002Fem> allow many \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2020\u002F11\u002F06\u002Fmaking-a-home-for-the-brave-possible-infographic\u002F\">veterans\u003C\u002Fa> to put 0% down. You may have heard the common myth that you need to put 20% down when you buy a home, but thankfully for most homebuyers, a \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F02\u002F03\u002Fdo-i-really-need-a-20-down-payment-to-buy-a-home\u002F\">20% down payment\u003C\u002Fa> isn’t actually required. It’s important to work with your real estate professional and your lender to understand all of your options.\r\n\u003Ch4>\u003Cstrong>How can your tax refund help?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nIf you’re a first-time buyer, your tax refund may cover more of a down payment than you realize.\r\n\r\nIf you take into account the median home sale price by state, the map below shows the percentage of a 3% down payment that’s covered by the average anticipated tax refund:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F04\u002F20210405-MEM-Eng-2.png\">\u003Cimg class=\"aligncenter wp-image-44133\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F04\u002F20210405-MEM-Eng-2.png\" alt=\"Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>The darker the blue, the closer your tax refund gets you to homeownership when you qualify for one of the low down payment programs. Maybe this is the year to plan ahead and put your tax refund toward the down payment on a home.\r\n\u003Ch4>\u003Cstrong>Not enough money from your tax return?  \u003C\u002Fstrong>\u003C\u002Fh4>\r\nA recent \u003Ca href=\"https:\u002F\u002Fwww.nber.org\u002Fsystem\u002Ffiles\u002Fworking_papers\u002Fw27693\u002Fw27693.pdf\">paper\u003C\u002Fa> from the \u003Cem>National Bureau of Economic Research\u003C\u002Fem> found that, of the households that received a stimulus check last year, \u003Cem>“One third report that they primarily saved the stimulus money.”\u003C\u002Fem> If you had the opportunity to save your \u003Ca href=\"https:\u002F\u002Fwww.consumerfinance.gov\u002Fabout-us\u002Fblog\u002Fguide-covid-19-economic-stimulus-checks\u002F#qualify\">Economic Impact Payments\u003C\u002Fa>, you may consider putting that money toward your down payment or \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2019\u002F12\u002F09\u002Fhave-you-budgeted-for-closing-costs\u002F\">closing costs\u003C\u002Fa> as well. Your trusted real estate professional can also advise you on the down payment assistance programs available in your area.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nSaving for a down payment can seem like a daunting task, but it doesn’t have to be. This year, your tax refund and your stimulus savings could add up big when it comes to reaching your homeownership goals.","\r\nSaving for a down payment can seem like a daunting task, but it doesn’t have to be. This year, your tax refund and your stimulus savings could add up big when it comes to reaching your homeownership goals.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F04\u002F20210405-MEM-Eng-1.png",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},38,"Move-Up","move-up","2021-04-05T10:00:50Z","2021-04-05T10:00:51Z",{"id":32,"slug":33,"title":34,"featuredImage":35,"publishedAt":36,"contentType":10,"isVideo":15},1854,"buyer-competition-is-good-news-for-sellers-infographic","Buyer Competition Is Good News for Sellers [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F04\u002F01112132\u002F20210319-KCM-Share.png","2021-04-02T10:00:56Z",{"id":38,"slug":39,"title":40,"featuredImage":41,"publishedAt":42,"contentType":10,"isVideo":15},1856,"dont-sell-on-your-own-just-because-its-a-sellers-market","Don’t Sell on Your Own Just Because It’s a Sellers’ Market","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F04\u002F01145817\u002F20210406-KCM-Share.jpg","2021-04-06T10:30:29Z",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[48,52,53,57,61,65,69,70,74,78,79,83,87,91,95,99,103,107,111,115,119,123,127,131,135,139,143,147,151,155],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},6,"For Sellers","sellers",{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":66,"name":67,"slug":68},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":26,"name":27,"slug":28},{"id":80,"name":81,"slug":82},41,"For Sale by Owner","for-sale-by-owner",{"id":84,"name":85,"slug":86},42,"Featured","featured",{"id":88,"name":89,"slug":90},45,"New Construction","new-construction",{"id":92,"name":93,"slug":94},52,"Luxury \u002F Vacation","luxury--vacation",{"id":96,"name":97,"slug":98},53,"Rent vs. Buy","rent-vs-buy",{"id":100,"name":101,"slug":102},80,"Time-sensitive","time-sensitive",{"id":104,"name":105,"slug":106},81,"Outdated","outdated",{"id":108,"name":109,"slug":110},147,"Internal","internal",{"id":112,"name":113,"slug":114},148,"Do Not Autopost","do-not-autopost",{"id":116,"name":117,"slug":118},320,"Inventory","inventory",{"id":120,"name":121,"slug":122},321,"Agent Value","agent-value",{"id":124,"name":125,"slug":126},322,"Affordability","affordability",{"id":128,"name":129,"slug":130},323,"Buying Tips","buying-tips",{"id":132,"name":133,"slug":134},324,"Downsize","downsize",{"id":136,"name":137,"slug":138},325,"Economy","economy",{"id":140,"name":141,"slug":142},326,"Equity","equity",{"id":144,"name":145,"slug":146},327,"Forecasts","forecasts",{"id":148,"name":149,"slug":150},328,"Selling Tips","selling-tips",{"id":152,"name":153,"slug":154},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":156,"name":157,"slug":158},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]