Credit Card Center Advertiser Disclosure†
02-06-2013 05:10 PM
From what im reading CAIVRS is where tax debt comes up and only Federal funded programs require that. I think if i can do Conventional i can payment plan the IR$.
Gonna ask my LO to confirm this tomorrow. Sure would rather put $15K into my house up front.
Read something made me fall out of my chair earlier. If a family member gifts you say $10,000 to get into a house with 20% down the IRS will want some of that gift.
Now yer short again after they take 25%.
I mean who would have thought hey i want to help my son out heres 10 grande then have to send IR$ 5 grande for that right to gift yer son.
02-06-2013 06:24 PM
They can give you 14K each, no prob as far as the IRS goes. http://www.forbes.com/sites/deborahljacobs/2012/10/18/irs-raises-yearly-limit-for-tax-free-gifts/
02-07-2013 09:01 AM
02-07-2013 09:33 AM
The 4506-T is just matching return with IRS with what you submitted.
Its the CAIVRS all FHA loans require that check for Federal debt.
FHA all tax has to be paid or on payment plan for minimum 6 months usually one year.
So if you havent been a plan with IR$ for 6 months dont even try FHA no house for you.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.