Home Buying in Santa Barbara>Question Details

nnn, Home Buyer in San Diego, CA

Preapproval is waiting for taxes to be done. Ask parents to temporarily guarantee the difference to be preapproved due to bidding this week?

Asked by nnn, San Diego, CA Mon Mar 11, 2013

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Unless you are self employed I don't understand why it can't be determined( by an experienced Loan Officer) as to how to calculate your income. Or must not working with a LO who is communicating effectively or I suppose there is more to the story.
0 votes Thank Flag Link Mon Mar 11, 2013
Per approval is waiting for taxes if they need the 2012 income to qualify, etc.
you will also need to have the tax transcript for that year pulled direct from the IRS before you can use those taxes. Make sure you file electronically and long before April 15 th.
aft that you could be waiting literally for weeks to get report back from the IRS.
See my blog re 4506 T.
0 votes Thank Flag Link Mon Mar 11, 2013
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