"Homeownership is the American dream, and consumers have an even greater chance of realizing that dream by using this year's tax refund check," said Robert D. Walters, chief economist at Intuit's (NASDAQ: INTU) Quicken Loans, a leading online mortgage lender and the 27th largest retail mortgage lender in the U.S. "The additional money from the tax rebate can help homeowners and buyers with everything from the down payment on a home to the refinance of their current home."

A recent online survey, conducted by Intuit, also the makers of Quicken® and TurboTax® software, asked taxpayers what they plan to do with their tax rebate. Of the 2,163 respondents, 18% said they plan to splurge on themselves or travel, while the remainder said they would use the money to improve their financial situation. To help make the most out of this year's tax refund checks, Walters offers consumers the following tips:

New Home Buyers

• First-time homebuyers can use their tax refunds to help with the down payment on a home or as contribution to closing costs. With closing costs averaging about 2 to 5 percent of a home's purchase price and down payments traditionally being about 20% of the price, the additional money from tax rebates may help consumers get into the home of their dreams a little easier.

"Most consumers don't realize that they can get into a home for little or no money down, and still have a low interest rate on their mortgage,' said Walters. "For many, their tax rebate could help cover a down payment. If you consider the after tax advantages of home ownership, a mortgage interest rate in the sevens will provide an after tax equivalent interest rate in the 5% range. And considering inflation is now hovering around 3%, the true cost of borrowing is about 2%."

Additionally, relatives can help family members who are buying a home for the first time by using the unexpected refund check as "gift money," enabling the homebuyers to get into their new home quicker.

Refinancing

• With interest rates at 30-year lows, now is a great time for consumers to consider refinancing their homes. Tax rebates may be used to offset closing costs associated with the refinance. Consumers can visit Quicken Loans' Refinance Center at www.QuickenLoans.com and click on the Refinance calculator for help determining whether they should refinance and calculating what their new monthly payment would be.

Using their tax refund to pay the closing costs, homeowners with high interest rates on their existing mortgage or home equity line of credit may be able to move into conventional mortgage rates with Quicken Loans' Easy Answer loan. For example, a consumer with an 11% rate on a $120,000 loan typically averages $1,143 a month in mortgage payments. If the same borrower were to get a 9% rate through Quicken Loans' Easy Answer program, the consumer's payment would drop to $965 a month, saving them $177 a month. Consumers can see if they qualify by calling 1-800-729-4424 or visiting www.QuickenLoans.com.

To learn more about how to leverage your tax refund as a homeownership tool, visit Quicken Loans Home Buying and Refinance Centers at www.QuickenLoans.com. Both contain educational content explaining the mortgage process and calculators that can help consumers calculate the amount of home they can afford based on today's rates, or the potential savings achieved by refinancing. Or you can call 1- 800-729-4424 to speak directly with a loan consultant who can help you understand the impact of your tax refund and your buying power. To determine your tax rebate, visit the rebate calculators at www.turbotax.com

MEMO to Editors: Quicken Loans officials are available for interviews. Quicken Loans can also help you obtain interviews with recent customers. Contact Elizabeth Jones at 734/805-7137 or via e-mail at Elizabeth_Jones@QuickenLoans.com or Claudia DeMordaunt at 734/805-57977 or Claudia_DeMordaunt@QuickenLoans.com.

About Quicken Loans
Quicken Loans (previously known as Rock Financial Corp., owner and operator of RockLoans.com), a leading provider of direct-to-consumer home loans on the Internet, offers mortgages in all 50 states and the District of Columbia. The company provides a wide variety of home financing options including conventional, sub-prime, home equity, government and jumbo loans.

Quicken Loans combines cutting-edge technology and high touch personal service to give consumers a convenient one-stop home and mortgage shopping experience on the Internet. More than 400 experienced loan professionals located in the Quicken Loans' state-of-the-art Web/Call Center work directly with consumers throughout the entire process, while the Web site educates and empowers consumers through timely interactive tools and information related to the home financing process. Intuit Inc. acquired Rock Financial (and RockLoans.com) in December 1999.