Home Buying in 89183>Question Details

Elaine71, Home Buyer in 89183

My husband did an extension on his taxes, will this stop the underwriters from approving his FHA loan?

Asked by Elaine71, 89183 Tue Jul 3, 2012

The paper work was just submitted today.

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Answers

3
Have you applied for an FHA loan without supplying tax returns?


David Cooper Investments and Property Management
http://www.lasvegaswinner.org 702.499.7037
0 votes Thank Flag Link Mon Feb 18, 2013
The person you want to ask that question to is the loan officer doing the loan. They can give you a solid answer on this.


Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Mon Feb 18, 2013
Hello,

I am NOT a mortgage lender. Please consult with a different lender if you are not comfortable speaking with your own. However, it is my understanding that two years of tax returns are needed. Thus, if you dont have returns for 2011 since an extension was done. You would simply show returns for 2009 and 2010. If those returns show sufficient income, you should qualify. If you do not, it may hinder you. The lender will have you sign a 4506, the IRS cannot respond to this until they have processed your return. So it depends on the IRS processing time of this return. You may want to call IRS to determine how long it will take them to process it. Usually if you sent it electronic, likely no more than three weeks.

I hope this answers your question.

Thanks,

Nakia Woodson
702-318-1244
NakiaWoodson@yahoo.com
0 votes Thank Flag Link Wed Jul 4, 2012
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