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Maximizing Your Tax Return: A Smart Step Towards Homeownership

As tax season comes to a close, many of us find ourselves with a little extra cash in our pockets. If you’ve received a tax refund this year, you might be considering how best to use this windfall. While a vacation or a shopping spree might be tempting, have you considered investing in your future by using your tax return towards homeownership?
Your tax refund can play a pivotal role in the homebuying process, providing a financial boost that can help you get closer to owning your dream home. Here are some smart ways to utilize your tax return in the journey to homeownership:
  1. Boost Your Down Payment: A larger down payment can reduce the amount you need to borrow, potentially lowering your monthly mortgage payments and interest rates. Using your tax return to increase your down payment can make a significant difference in the long run.
  2. Cover Closing Costs: Closing costs can add up quickly, often ranging from 2% to 5% of the home’s purchase price. Applying your tax refund towards these expenses ensures a smoother closing process without dipping into your savings.
  3. Pay Down Debt: Lenders consider your debt-to-income ratio when approving a mortgage. Using your tax refund to pay down existing debt can improve this ratio, enhancing your chances of securing a favorable loan.
  4. Build an Emergency Fund: Homeownership comes with unexpected expenses. Setting aside part of your tax refund as an emergency fund prepares you for any unforeseen repairs or maintenance needs.
  5. Improve Your Credit Score: If your credit score needs a boost, using your tax refund to pay off credit card balances can improve your score, helping you qualify for better mortgage terms.
Take the Next Step with SNapp
Ready to turn your tax refund into a key to your new home? With our SNapp mobile app, applying for a mortgage has never been easier. SNapp lets you start your homebuying journey right from your phone, offering a seamless and convenient way to explore your mortgage options.
Search for a home
Get real-time results on available homes in your area.
Calculate Mortgage Payments
Easily calculate mortgage payments based on numerous loan scenarios, terms, and loan products.
Go Paperless
Use the app to easily scan and securely send documents to your loan officer.
Apply for a Loan
Fill out a loan application anywhere — no need to mail in forms.
Stay Connected
Get alerts and updates throughout the loan process.
Your tax refund offers a unique opportunity to make a meaningful investment in your future. Whether it’s boosting your down payment or paying down debt, these strategic moves can bring you closer to homeownership. And with the SNapp app, you’re just a few taps away from making your homeownership dreams a reality.
Download SNapp today and take control of your homebuying journey. Your dream home is waiting—let’s get started!
Download SNapp
*Consult a tax specialist for your specific tax situation.

SecurityNational Mortgage Implements a Fully Paperless Closing Process Using DocMagic’s Total eClose™ Platform

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FOR IMMEDIATE RELEASE

SecurityNational Mortgage Implements a Fully Paperless Closing Process Using DocMagic’s Total eClose™ Platform

Lender achieves full eClosing benefits, faster and more reliably, as the result of DocMagic’s consultative implementation process, single-source platform, and intuitive UI

Hundreds of SecurityNational Mortgage guests were on their feet in elation as Sloan Urry made the winning pass just in front of their suite on the front straightway Saturday on a sunny afternoon just outside of his home town in Utah.

TORRANCE, Calif. and SALT LAKE CITY, Utah, Dec. 19, 2018 — DocMagic, Inc., the premier provider of fully-compliant and document preparation, regulatory compliance and comprehensive eMortgage services, and SecurityNational Mortgage Corporation (SNMC), an independent national mortgage banker, jointly announced that they successfully rolled out DocMagic’s comprehensive Total eClose™ platform.

Since rolling out Total eClose in September, SNMC has reduced borrower time at the closing table to as little as 15 minutes, and become one of the first national lenders to offer a true eClosing solution that involves no paper whatsoever. It has dramatically sped up the closing process, ensuring accuracy and loan quality, and delivering newfound efficiencies for borrowers, notaries and settlement providers. Total eClose enables SNMC’s customers to preview documents prior to closing, eSign all documents, and complete both remote and in-person eNotarizations. As a result, SNMC is now positioned to capture more market share, reduce operational costs, expedite closing times and elevate the borrower experience.

“Our goal was to perfect a completely digital eClosing process, not to be just another lender offering a basic hybrid closing,” said Steve Johnson, president of SNMC. “Achieving our goal required a powerful end-to-end technology, a perfectly executed seamless implementation, and an intuitive interface that everyone-staff, settlement service providers and borrowers-could use immediately, without a steep learning curve. We got that and more with DocMagic. Plus, the DocMagic implementation team was with us all the way. We never had to worry about a thing.”

The two companies approached the project as partners to ensure swift adoption and a quick understanding of the new workflow-driven eClosing process for both SNMC’s staff and customers. DocMagic worked hand-in-hand with the lender, leveraging its vast eMortgage expertise to help sculpt a unique strategy and a successful go-to-market launch. Unlike other document and eClosing solution providers, DocMagic takes an ultra hands-on approach to implementations, from developing the project roadmap, to training all parties-such as staff, title agents and notaries-to synchronized testing of each facet of the Total eClose platform.

“Our implementation teams function like expert consultants-we work very closely with each client, guiding them literally every step of the way,” said Dominic Iannitti, president and CEO of DocMagic. “There is a huge number of moving pieces in an eClosing solution. As a single source solution, we have intricate knowledge of every one of them, so there are none of the issues that plague other providers-not only immediately after the implementation, but over the long haul as well. In contrast, lenders who

choose incomplete or cobbled-together eClosing technologies may have to hit the restart button within 12 to 18 months and search for a comprehensive solution.”

DocMagic is a recognized eClosing pioneer, and has been a part of virtually every state-first eClosing in the U.S.

“We’re pleased to work with companies like SecurityNational Mortgage that truly understand the value of implementing a 100 percent paperless eClosing process,” said Iannitti. “They have taken a leadership position in facilitating eClosings and are ready for an inflow of new business that will be conducted very efficiently.”

DocMagic’s comprehensive suite of eSolutions and eServices also includes SMARTDocs, eNotes capability, eVault technology, eWarehouse lending, and even loan servicing.

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. The company’s compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit https://www.docmagic.com. 

About SecurityNational Mortgage Company:

SecurityNational Mortgage Company (SNMC) is an award-winning retail mortgage lender. Headquartered in Salt Lake City, Utah, the company has 102 offices across the nation and is currently licensed in 44 states. SNMC is a wholly-owned subsidiary of Security National Financial Corporation, a publicly traded company (SNFCA – NASDAQ®). Founded in 1993, SNMC is celebrating its 25th year in business and is proud to have helped thousands of homeowners each year with their home purchases and refinances. SecurityNational Mortgage Company is an Equal Housing Lender (NMLS 3116). For more information, visit https://snmc.com/.

Media Contacts:

Joe Bowerbank
Profundity Communications, Inc. for DocMagic
949-378-9685
jbowerbank@profunditymarketing.com

Paul Christensen
SecurityNational Mortgage Company
801-838-9808
paul.christensen@snmc.com

 

SNMC Press Center

 

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