@ShanetheMortgageMan wrote:Glad the processor accepted what you provided. You are right, a lot of times processors aren't sure exactly what the underwriter will want so they ask for as much documentation as possible. It's the loan officers & processors job to make sure your loan is presented in a clear manner for the underwriter to have the easiest time possible when reviewing. Some processor's need to know when what they have will do though. I've had my processors ask for extra documentation that I knew wouldn't be needed, so I just tell them to submit the loan with what we have and if the underwriter has any questions they can contact me. There is a certain balance between providing enough documentation for the underwriter and not pissing off a customer.
If it's not a lien, and you've been on a payment plan for at least 3 months with all payments made on time then the chances you'll get approved are pretty good for either conventional or FHA financing. Some lenders want 12 months, but most are OK with anywhere from 3-6 months. If it's a lien then there are other items to be concerned with, but it's still do-able with FHA (VA & USDA) financing.
If you're in a DirectDebit installment plan with the IRS, you can get the lien nuked anyway off the credit reports under the IRS's Fresh Start program. Takes filling out a form and then 30 days for the IRS to handle it (as I understand it, bout to go through it with a paid Fed lien on mine) but given mortgage process timing, think that's likely doable for just about anyone in this situation.
Thank you Revelate. We already completed freesh start and the liens are 100% gone off our credit reports. I had them removed within 2 weeks from our 3rd automatic payment to the IRS. 
That's why we find it odd the loan officer thinks it will be an issue. There is no lien and we are current with the IRS.
I'm pretty sure we can go FHA if they decline us for conventional. This is through a mortgage broker, so they have several lenders to shop us through. At least I think that's how it works. We made it through auto underwriting for our pre-approval, so we are closer than we have ever been to getting a house.
I just wanted to add that our dti is 10% with the IRS payment and 30% total with the house payment. Not that this would make much difference I guess.
Still, no news yet. Maybe no news is good news?
Loan office just called and said underwriting will approve based on home inspection and a few things that we have to do first...
Pay off a state tax lien from 2005
LOE for bank deposits
1 dispute comment off wife's report
copy of this year's w2s
Congrats!
@xecutech wrote:Thank you very much Shane. That makes me and my wife feel a lot better.
My realtor said if they don't do it, he has another lender who is not as strict. He also said FHA may still be an option, but not sure with the new stuff that kicked in this month. I feel like we will be fine one way or another. Thank you for taking the time to reply.
I will keep you updated on our progress.
Please stay positive and try your best not to stress it. Just keep thinking about how happy you are going to be when you spend your first night in your new home. I too have a payment arrangement with the IRS and now I am worrying because my broker didn't ask me for any proof of payment or anything 
.....I guess I need to order a transcript from the IRS before they come back asking for it.
Best of luck to you and your wife on your new home. Keep us posted!!
012019 Fico8/Mortgage Score: 
