Home Buying in Ontario>Question Details

Jonathan Fig…, Home Buyer in Los Angeles, CA

how many years of taxes do i need in order to qualify for a home?

Asked by Jonathan Figueroa, Los Angeles, CA Thu Jul 26, 2012

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It depends on where your income is coming from. I have programs that do not require tax returns but will require W2's and 1099's or nothing if your on SSI. I only need a few minutes of your time to ask a few dozen questions to qualify you in minutes. I specialize in Under 640 Fico Score Loans. I have programs to qualify you. I even offer Section 8 home purchase programs. If you have a minimum 580 fico score, you may qualify for CHF Access half percent down payment program...

CHF Access half percent down brochure, pdf
http://tinyurl.com/9fak6ho
Sheryl Arndt, standard needs list checked, pdf
http://tinyurl.com/9m2rsb2
Why Rent brochure
http://www.frankandsheryl.com/Documents/Why%20Rent%20brochure…
http://www.frankandsheryl.com/Documents/Why%20Rent%20brochure…
CHF Access income limits http://tinyurl.com/8lzf8he
http://www.Under640FicoScoreLoans.com
http://www.FrankandSheryl.com

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Broker – Loan Officer
DRE# 01440252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Sat Oct 13, 2012
Two complete years is correct.
However, if you are trying to qualify for a first time homebuyer's program, you will need to proved three years previous tax returns to demonstrate that you have not written off any mortgage interest. cg
0 votes Thank Flag Link Sat Aug 18, 2012
2 years including the April 15th filing should have been done. Not 2 years 4 years ago taxes.

Harold Sharpe - Broker
So Cal Homes
(951) 821-8211
harold@socalhomes.biz
http://www.socalhomes.biz
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Sat Jul 28, 2012
We lenders do like to see two complete years of Federal Tax returns.
If you are self employed these are, obviously, critical.
If you are a W2 employee and tax returns are unavailable, we will be requesting tax transcripts from the IRS.
Should those transcripts show any losses or any additonal schedules (A or C for example), we will need to see the complete tax returns for the past 2 years (2011 and 2010) with an explanation for whatever losses you may be posting, as well. Comments on whether or not the losses may nor may not be occurring again in the future.
One month of current bank statements (all numberedpages complete with account number and name).
Previous 30 days of pay check stubs.
This will get you started.
Check out by blog re: qualifying v. approval. cg
0 votes Thank Flag Link Thu Jul 26, 2012
Jonathan it is common for a loan officer to ask for 2 years of tax returns, 3 mo of bank statements, last 2 paystubs and a list of your income and debt.
0 votes Thank Flag Link Thu Jul 26, 2012
I assume you mean,"to qualify for a home loan ?"
Most lenders like to see 2 years of tax returns.
The best thing to do is to ask around your friends and relatives who have bought property, and see who was happy with their lender. Give that lender a call, and start the conversation.

You will find that most lenders will be happy to take some time, and tell you the first steps you have to take.

Good Luck
0 votes Thank Flag Link Thu Jul 26, 2012
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