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Owe Taxes-will it effect my USDA loan?

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ilkhats44
Established Member

Owe Taxes-will it effect my USDA loan?

I am in the process of trying to close out on a USDA loan. I  will close on the house in the next 2 to 3 months. I will owe taxes for this year and want to postpone paying the IRS until after the closing. Will this work?   I really don't want to pay anything until after the closing.

Message 1 of 4
3 REPLIES 3
JM-AM
Valued Contributor

Re: Owe Taxes-will it effect my USDA loan?

If you owe taxes, you need to make a payment arrangement. Non payment of taxes can give you a denial.

Good Luck
May all your dreams and wishes become a reality!
Message 2 of 4
fdiggy
New Contributor

Re: Owe Taxes-will it effect my USDA loan?

Well if this is true im getting denied this week right after paying for the appraisal. I owe for 2011 and 2012. I got a letter stating i need pay 2011 by April 15th. I plan to setup a payment plan on that April 12th or after cleared to close. So i will have difinitive feedback on this late in the week. My loan app was turned in 2 weeks ago but appraisal was just done Thursday expecting a written report Monday. So this week i should hear from lender.

I have heard they run a CAIVRS and that is looking for delinquent taxes that they are pursuing you for. That is what my LO told me. You only get added to the CAIVRS if they sent you letters you did not respond to. He could be wrong of course but seemed very knowledgable like he had been through it before.


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Message 3 of 4
fdiggy
New Contributor

Re: Owe Taxes-will it effect my USDA loan?

You have to be delinquent as in they are pursuing you for back taxes. Like they have sent letters that you didnt respond to. That will get you on the CAIVRS list.

As long as you have not gotten letters requesting payment that you didnt respond to you will be fine.

 


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