Tax Returns

[whodatnation2]

I am in the process of filing this year's tax returns. Would I need to have this years returns completed and filed to qualify for a mortgage? Or would the last two years returns and this years W-2 be enough? Thanks in advance.

[Aprile421]

My mortgage company wanted last 2 years this year included. I also had to pay any money I owed to the IRS for taxes off. I had already filed and paid my taxes so I was good there. I closed in June.

[Anonymous]

I'm in the process of closing on a loan, when I asked specifcally about tax returns I was told that the W2's were sufficient since not more than 25% of my income was bonus or commission based.

[garagebandking]

Filing this year's as in the 2015 tax year that was due in April? Did you file an extension?

For my mortgage, it was the 2 most recent years' tax returns and the most up to date W2. That ended up being 2014 and 2015 but I'm pretty sure if you needed 2 years returns and filed an extension on 2015's return...you could provide 2013 and 2014 and then your W2 assuming most of your income doesnt come from bonus/commission.

[IOBA]

When we were closing in the month of May, the lender required the previous year's tax return to be filed.  I had to drive hours to an IRS office, hand them my tax return, and get a stamped receipt that the return had been received.  The stamped receipt had to be turned in, along with a copy of the taxes filed, and the W-2 for the previous year.

It may have been an underwriter...or it may have been the loan officer....whoever.  Whatever.  We closed in 2 weeks.