Form 4506-T: Use of tax transcripts

[CS800]

What do underwriters use the tax transcripts for?

I sent my long form that i filed to them already.

Any feedback appreciated.

[Anonymous]

To verify that information. You really don't think underwriting will just trust you, do ya? 

[StartingOver10]

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@Anonymous wrote:

To verify that information. You really don't think underwriting will just trust you, do ya? 

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^^^Exactly, just one of many verifications! VOE (employment), VOD, VOR - quality control checks....yada, yada.  Your application is the start of a whole chain of events....

[frugalQ]

soon, they will be checking our health records to calculate the probability of the borrower living longer than 30 years post close!!

[StartingOver10]

BTW, point of information, the more money you put down the lower your LTV and the less the lender verifies your records. Start getting into the 65% or less LTV and it is a walk in the park. 

[IOBA]

...and my lender only asked for 25% down!  He said that was the "sweet spot."   I offered more but he said nah.

I asked him today about the tax transcript form.  He said every lender actually uses it.  (My previous lender did not.)

Oh well.  Maybe I should consider putting down another 10%???