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, Home Buyer in 10013

do FHA and conventional lenders require income tax returns to be verified with form 4506T?

Asked by , 10013 Thu Dec 4, 2008

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Marty is not actively working in this market. Today, yes, many lenders verify using that form 100% of the time. Some do it less, but for the majority. It is no longer a "spot check" as it used to be.
0 votes Thank Flag Link Thu Dec 4, 2008
Most Lenders are now pulling a 4506 directly from the IRS.

As a mortgage broker we ask for paystubs and W-2's, have you sign the 4506, and then pull it directly from the IRS. This is an extra cost (approx $26 for each borrower) but it's worth it to protect our business from fraudulent borrowers
Web Reference: http://www.myallied.net
0 votes Thank Flag Link Thu Dec 4, 2008
Applying for a loan the mortgage will confirm and must verify income all information is documentated. Your mortgage broker can assist you with any addiitional questions. Stated income, is a thing of the past. Financial records will also be reviewed by your loan officer.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Thu Dec 4, 2008
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