02-28-2011 07:20 AM
I was under a payment plan and I paid it off early. My loan is in underwriting and I am worried that they will think the payment plan is still "on" as it would affect my DTI. How can I get a confirmation from the IRS that the payment plan was satisfied? Or will it be enough to show a cancelled check + payment?
03-02-2011 09:23 AM - edited 03-02-2011 09:24 AM
I actually had to show my lender a record of my IRS payment plan as well. I went to the IRS's website and went into my account settings and then clicked on transcripts. It will ask you what year you need. It took about 5-6 days to get the transcript. This shows how much the original balance is, and what payments you've made towards the balance. This should be sufficient, at least it was for my lender. Hope everything goes well for you!
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