Tax documents

[Bob Schmidt]

#394

I’m a little delayed in getting my tax documents for 2019 but it will be a good year in terms of showing a loan officer. Should I delay my mortgage until I have the revised tax filing?

[nhamilton]

#400

Hi – that really depends on what 2017 looks like. Most loan officers will need to use two years of tax documents for you to qualify, so if you don’t have 2019 yet, then 2017 and 2018 can be used. When you get 2019 in, you can submit that, too. If 2017 isn’t sufficient then it’s probably best to wait until you have your 2019 documents particularly if it will result in a more favorable rate and overall offer.

[Dan Lass]

#488

If your 2018 and 2019 filings are better than your 2020 filings, can you submit all three, and would that make a difference in terms of getting better offers/rates?

[nhamilton]

#491

Hi – While each bank has different lending requirements, most banks want to see the last two years. However, it doesn’t hurt to ask. But most likely the last two years are what a lender will use to qualify you.

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