Key takeaways

  • Tax refunds could be a substantial influx of cash – use it wisely
  • A tax refund could cover your whole down payment
  • Funds to close are often overlooked until you have to pay for them
  • Deposit the refund and keep it there to build your financial strength

With good planning, a tax refund could cover the whole down payment for a home purchase!

If you’re looking to buy a home at the start of the year, there’s good reason to hang on to your tax refund. This is the time of year when potential homebuyers have the most funds at their disposal, and that extra money comes in handy when making a down payment on a home, financing funds to close, or building financial strength. So don’t go on a spending spree just yet! Continue reading

Residential Financial Corporation is now a Ginnie Mae Seller-Servicer. This new privilege allows us to sell our own government insured loans (FHA/VA) without having to sell or depend upon an aggregator like Wells Fargo, Citi, or GMAC. Given the consolidation of the major players in our industry, this approval will allow us to have firm control of our own future in many ways.

Ginnie Mae is the only mortgage-backed security that enjoys the full faith and credit of the U.S. Government. They exist to make affordable housing a reality for millions of low to moderate-incomehouseholds across America by channeling global capital into the nation’s housing markets. With approximately $1.2 trillion of Mortgage-Backed

Securities (MBS) outstanding and more than $4 trillion of cumulative issuance, Ginnie Mae’s MBS program has been a significant contributor to the growth of the secondary mortgage market in the United States. This major milestone achieved by RFC truly reflects our commitment to loan quality and compliance. We’re absolutely thrilled to reach this level!

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