Given that your credit score plays a huge role in determining your mortgage interest rate, it behooves you to go into the game with the best score possible. To that end, you want to pay down your debt so you can show a healthy debt to income ratio.

Today’s interest rates are higher than we would all like them to be. Even with a healthy credit score, you may want to buy down the going rate. Your tax return can come in handy for a rate buy down.

The more money you’re able to put down for a home purchase, the less you have to finance. The 20% down rule isn’t mandatory, however with less down, you may have to pay mortgage insurance. Your tax return can be used to boost your down payment.

Closing costs are a very real part of the closing process. These fees can include fees associated with a variety of elements including loan origination fees, survey fees, appraisals, credit reports, recording fees, etc. These fees can be as much as 2.5% to 3.5% of the home’s purchase price. If you’re buying new construction, homebuilders often offer to pay a portion of closing costs when homebuyers use the builders’ lending partner. Holiday Builders offers closing cost incentives in select markets for homebuyers using Coastal Loans. Be sure to inquire with one of our New Home Consultants when home shopping.