Mortgage loans and owed income taxes

[Nomad73]

My wife and I have already been per approved for a mortgage and we are going to build a home.  We are going to owe the IRS a large amount of money this year due to my wife's business, we are hoping to have those paid off before closing. My question is that if the taxes aren't completely paid by closing would the lender see that and not approve the loan? There are options for payment plans but we are not sure how that would affect our loan? 

Thanks in advance and this board has been very helpful already!!

[redsox31324]

I actually have something similar going on with my loan also. We were told to file our taxes in order to have the maximum amount of income to be used. Makes sense so we complied and it turns out we owe about $5400 in taxes. We can pay that, but would rather hold on to our savings a bit and hopefully off set it next year. We're having our first child this year, and I've adjusted our deductions per pay period.
The problem then becomes a dti issue and now counts as a new bill to be considered and therefore lowering the amount you can borrow. That's if you choose the installment pay back option
Your LO should be able to explain the difference in the two options.