Tax Season is Upon Us

Got your tax return? Here's what not to spend it on! 

​We have enter the season of tax return and self splurging! If you are in the process or maybe you are getting your home buying process started, you may want to keep reading..

The way we spend our tax return may affect your loan program! If we use our refund as a down payment to a new car, guess what? Now we have an additional lability to consider and this may bring down your debt to income ratio. When this happens your lender will be alerted and will result in less buying power. 

Additionally, if you spend your refund on other high price tagged items. This may result in the same predicament. It is recommended to consult with your Realtor or Lender before you spend on other things! 

Here are a few examples for you to consider: 

• Buy a New Car
• Start Purchasing Furniture
• Buying that Huge TV
• Don't Over Spend it 
  • You may need to use it for you closing costs

For more information on how you should use your tax return please contact me!