Tax Refunds as Assets

Mortgage and Lending with The Mortgage Experts at America's Mortgage, a Division of Cherry Creek Mortgage Co. NMLS #241555

It's almost tax refund time. Many people ask us if tax refunds can be used to pay for a mortgage down payment or closing costs.

The answer is YES! All a borrower needs to do to document the tax refund is to provide a copy of the refund check and a bank statement showing that the refund has been deposited into their account. If the refund was automatically deposited into their account, they won't have a copy of the check, but the notation on their bank statement will show that it is a tax refund. In the case of automatic deposits, the only documentation necessary is the bank statement.

The money does NOT have to be "seasoned", meaning it has been in their account for 60 days. As soon as the refund has been deposited, it can be used to pay the down payment or closing costs.

Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!!

Make sure you check out our web site:

And make sure you check out our blog at:

By the way, don't forget to refinance your current mortgage. Rates are very, very low right now. Don't miss out! Call us today to get the details for your particular situation.


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
ActiveRain Community
Active Rain Newbies
Colorado Real Estate
Colorado Realty Bloggers
mortgage tips
tax refunds

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Chris Thomas

Ask me a question
Spam prevention

Additional Information