Can I qualify for a FHA mortgage while I owe money to the IRS?

[Anonymous]

I recently went through a divorce and learned that my ex-wife did not file our 2014 and 2015 taxes.  Once I learned this, I hired a CPA and filed 2014/2015 and 2016 and ended up owing appx $15,000 to the IRS.  I elected to sign up for monthly payments that the IRS offers.  Luckily I have no liens/judgements against me - I was the one who caught this before anything official happened.  Nothing about this appears on my credit report.

Would I be able to qualify for a FHA mortgage with the payment arrangement or would I need to pay it in full?

My details:

Salary: $120,000/yr  + $20,000 bonus (have received bonus the last 2 years)

Source of Income: W2 - have had salaried job for 2 1/2 years

FICO scores: 609/600/608

Location - Pennsylvania

Monthly Debts: $1100 ($150 Credit Cards + $150 Student Loan Payment + $600 Car Payment + $200 IRS payment)

The houses I am looking at are in the $300k-$375k range.  Would I be able to qualify for a FHA mortgage based on the above with the IRS situation?

[Anonymous]

I suspect it will factor into your DTI, so if you qualify on that front you should be fine. Your Bigger issue will be getting your score up a little as most lenders require at least a 620.

[Anonymous]

Yes you can qualify as long as you have an arrangement with the IRS (direct debit) and have made 3 consecutive ontime payments (some lenders may require 12 months). I know this from personal experience and yes it will factor into your DTI...Good luck

[VALoanMaster]

---

@Anonymous wrote:

I recently went through a divorce and learned that my ex-wife did not file our 2014 and 2015 taxes.  Once I learned this, I hired a CPA and filed 2014/2015 and 2016 and ended up owing appx $15,000 to the IRS.  I elected to sign up for monthly payments that the IRS offers.  Luckily I have no liens/judgements against me - I was the one who caught this before anything official happened.  Nothing about this appears on my credit report.

Would I be able to qualify for a FHA mortgage with the payment arrangement or would I need to pay it in full?

My details:

Salary: $120,000/yr  + $20,000 bonus (have received bonus the last 2 years)

Source of Income: W2 - have had salaried job for 2 1/2 years

FICO scores: 609/600/608

Location - Pennsylvania

Monthly Debts: $1100 ($150 Credit Cards + $150 Student Loan Payment + $600 Car Payment + $200 IRS payment)

The houses I am looking at are in the $300k-$375k range.  Would I be able to qualify for a FHA mortgage based on the above with the IRS situation?

---

Hi Sephiroth,

Based on the number's you've provided, yes, you can qualify for an FHA mortgage up to $375,000. You'll need to show at least 3 payments made to the IRS & you need to check the FHA county loan limit for the area you want to buy in to make sure it goes up to 300-375K.