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Pay 2008 Taxes for loan approval?

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workingmyway
Established Member

Pay 2008 Taxes for loan approval?

Hi, After some reading on the forums, I have a question. I am in the middle of the approval process for an fha loan. I gave them copies of my tax returns for 2007, and 2008. I am self employed, and even though I had my taxes done at my accountants, I haven't mailed them in yet, nor paid the 3400.00 that I owe. Should I hurry and mail them with the payment? Should I ask my LO? I was going to pay them with the 8000.00 tax credit, but now it sounds like if they are not filed and paid, I won't be approved. Am I understanding this correctly? Any help would be appreciated.
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Anonymous
Not applicable

Re: Pay 2008 Taxes for loan approval?

I believe you're correct. I'm in a different place. I filed, I owe, I'm in a payment plan but I've been told as long as the payment amt doesn't trash my DTI, I should be ok. I don't know what to tell you about getting the return to the IRS cause my LO ordered transcripts to prove they have the return. Hopefully your LO knows a way around this or something. Hope it works out for you.
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