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This week, Academy Mortgage is back for another segment of Mortgage Minutes. Today, Gina Spearman discusses how Atlanta home buyers are able to use their tax return toward a down payment for a new home.

The beginning of the year is a great time to start looking to for a new home to purchase. Many builders have not ended the promotions that were running at the end of last year, and they may actually be running new incentives for the first quarter as well.

Another added benefit to purchasing this time of the year is because of tax season. Many buyers may be unaware that you can use your tax returns towards a down payment on a new home. This option is available for all loan programs when applying for a mortgage. Keep in mind, if you need the income from your 2014 tax return to qualify, then keep a copy of your finalized tax return showing that you filled your taxes. Your tax transcripts from the IRS, which can take anywhere between two to six weeks to receive, will also be needed. Luckily, the tax refund is usually an immediate benefit that can be used right away.