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Thickem74
Posts: 3
Registered: ‎01-25-2012
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VA Loan and Taxes?

Hello all,

 

My question is can I be approved if I owe federal taxes from 2009 and 2010? I currently owe 13,000 total for the two years but I do not have a tax lien. I submitted my taxes late due to divorce (I know a bad idea) but arrangements have been made with the IRS to pay monthly. I have been looking all over online but I can't find an answer for my particular issue. I know with VA loans you have to be current on or have paid off all federal debt. Please help!!!!

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Valued Contributor
HoldingOntoHope
Posts: 1,057
Registered: ‎09-29-2009
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Re: VA Loan and Taxes?

I believe that as long as you have a written agreement for your payment plan and you are current on the payments that there will not be an issue. The problem is with delinquent federal debt. Understand that the tax payment will count in your DTI ratio. But go for it and good luck.

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Valued Contributor
JM-AM
Posts: 3,302
Registered: ‎06-09-2010
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Re: VA Loan and Taxes?

+1

Good Luck
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Valued Member
ChetBrown56
Posts: 28
Registered: ‎08-19-2011
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Re: VA Loan and Taxes?

[ Edited ]

You will want to check you CAIVRS(CAY-vers) record. A mortgage lender has to do this. CAIVRS is like a credit report for federal debt. Most of the time if a federal debt is in repayment VA will allow it.

 

As for the CAIVRS report actually reflecting the payments is another thing. CAIVRS is a go/no-go for goverment loans. If it has something on it, it will need to be cleared before they will allow a VA Loan



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New Contributor
lsjohns00
Posts: 66
Registered: ‎10-22-2007
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Re: VA Loan and Taxes?

Thank you all for your responses. I spoke to my LO today and she is going to check the guidelines for VA. Hopefully all goes well. The IRS did assure me that I didn't have a lien as long as I stick to the repayment plan.


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lsjohns00
Posts: 66
Registered: ‎10-22-2007
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Re: VA Loan and Taxes?

Ok, so now I am being told that I will get approved for the loan but one of my conditions will be paying off the taxes I owe. Not good!

 


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Valued Contributor
JM-AM
Posts: 3,302
Registered: ‎06-09-2010
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Re: VA Loan and Taxes?

Are you dealing with a LO from a banking institution or a Broker?
Good Luck
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New Contributor
lsjohns00
Posts: 66
Registered: ‎10-22-2007
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Re: VA Loan and Taxes?

It's NVR mortgage so I guess it's a broker type of service since the sell your loan after you close

close. 


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JM-AM
Posts: 3,302
Registered: ‎06-09-2010
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Re: VA Loan and Taxes?

Even banks sell your loan. Dont ever think otherwise. Lol

Just call another broker. While VA usually wants taxes paid they usually are okay with a repayment plan. Lender specific.
Good Luck
May all your dreams and wishes become a reality!
New Contributor
lsjohns00
Posts: 66
Registered: ‎10-22-2007
0

Re: VA Loan and Taxes?

Thanks For the info. I was going to try another lender anyway as a backup plan. 


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