My husband an I have been approved for a mortgage to build a home. We are not self employed... been W2 for 13 years. My issue is this ... I know the bank has to review 2 years of taxforms on all applicants (per our lender) and requests the 4506T. Our AGI (adj gross income) on our return qualifies us for the loan, and matches our W2s ... our taxable income is about $25,000 less due to charitable deductions, depreciation on vehicle and computer that my employer did not reimburse, mortgage interest deduction, child credit, etc etc etc All the deductions that if people are allowed to take them then most do. Will this hurt my income verification if my itemized deductions drop my taxable income below qualifying amount or are they just checking that my W2s match what is on my tax forms as Gross income and that I have actually filed my taxes? I would hate to lose a loan and be penalized over taking deductions that people are allowed!
Starting Score: 547 May 2013 to 698 December 2015 
What about the unreimbursed employee expenses I claimed. I am no longer with the employer that I had those expenses with (for over a year now) but they asked for 2010 / 2011 transcripts so would those expenses really be irrelevant to the underwriter since I am no longer subject to those expenses?