Mortgages, Refinance and Reverse Mortgages in The Villages, Florida

Helping Village Residents stay in their homes.

Simplifying Reverse Mortgage in The Villages, Florida

Speak to Bob Gersh now by calling: 352-561-3096 or
1-866-576-5254 ext. 700

Click Here To Set Up a Free Consultation.

  • Home
  • Myths
  • Questions
    • Are You Eligible?
    • Counseling
    • Moving Soon?
    • Use for the Money?
    • Live in your Own Home Forever.
    • Is a Reverse Mortgage right for you?
    • One time large expenses.
    • What kind of home do you own?
  • Reverse Mortgage Basics
    • The Villages, FL
  • Blog
  • About
  • Podcast
  • Local Resources
  • Platinum Years
  • Contact
  • Loan Calculator

admin April 15, 2025

Are You Saving Up To Buy a Home? Your Tax Refund Can Help

Are You Saving Up To Buy a Home? Your Tax Refund Can Help

BLOGApril 15, 2025

For BuyersFirst-Time BuyersBuying Tips


2 min read


You’ve been working on your savings and dreaming of that moment when you finally have keys to a place that’s truly yours. What you might not realize is that your tax return could give you a little extra cash to help you get there sooner. As Freddie Mac notes:

“ . . . your tax refund from the IRS can be a useful supplement to your homebuying budget.” 

So, if you’re getting a tax refund this year, you can use it to help you pay for some of the upfront costs that come with buying a home, like the down payment and closing costs. And here’s the best part.

On average, people are getting even more money back in their refunds than they did last year. While it’s not a big increase, the visual below uses data from the Internal Revenue Service (IRS) to show the average individual’s refund is 3.9% higher this year:

a screenshot of a computer

Of course, how much money you may get in your tax refund is going to vary. But when it comes to buying a home, any extra cash can help move things forward. Here are a few examples of how you can put that money to good use, according to Freddie Mac:

  • Save for a down payment – Saving for a down payment can be one of the biggest hurdles for buyers. Setting aside your tax refund for this expense could help you get to your goal faster. Just remember, it’s typically not required to put 20% down.
  • Pay for closing costs – Closing costs include fees for things like the appraisal, title insurance, and underwriting of your loan. They’re generally between 2% and 5% of the total purchase price of the home. So, putting your refund toward these costs can make things more manageable on closing day.
  • Lower your mortgage rate – Your lender might give you the option to buy down your mortgage rate. If you qualify for this option, you could pay up front to have a lower rate on your mortgage. If affordability is tight for you at today’s rates and home prices, this may be worth exploring.

But you don’t have to figure it all out on your own. Working with a team of trusted real estate professionals who understand the homebuying process, what you need to save, and any resources you can tap into will help you make sure you’re ready to buy when the time comes.

Bottom Line

When it comes to saving for a home, every dollar gets you one step closer to your goal. While your tax refund may not be enough to change the game, it can help give your homebuying fund a boost.

What would having your own home mean for you or your family this year? Let’s talk about it and we’ll come up with a strategy for success. 

Filed Under: Reverse Mortgages

Get More Information About East Coast Capital

Fill out the form below to learn more about Reverse Mortgages offered by East Coast Capital.

Explore Our Site:

  • Questions
  • Are You Eligible for a Reverse Mortgage?
  • What About Counseling?
  • Moving Soon?
  • Have Use for the Money?
  • Want to stay in your own home?
  • Is a Reverse Mortgage Right for You?
  • One Time Large Expense?
  • What kind of home do you own?

Serving The Villages, Florida

Follow Us!

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Our Newsroom:

  • More Homes for Sale Isn’t a Warning Sign – It’s Your Buying Opportunity
  • What Buyers Need To Know About Homeowners Association Fees
  • You Could Use Some of Your Equity To Give Your Children the Gift of Home
  • Housing Market Forecasts For The Second Half of 2025
  • Why Would I Move with a 3% Mortgage Rate?

© 2025 · Bob Gersh, Reverse Mortgage Coordinator, East Coast Capital, 57 North Main Street, Fall River, MA 02720 | Privacy Policy