Which Lenders Require 1 Year Tax Return?

[supervelous]

I'm a W2 earner, but would like to only provide 1 year tax returns.  Can provide 2 years W2's and paychecks.  Am about to do my 2014 taxes and want it to be the only tax return I provide.  See online many lenders want 2 years, any with 1 year?  My FICOs are pretty good, 740-770 range for all 3, about 85K base salary plus 10% bonus, no outstanding debt, 9 years in same job.

[Anonymous]

Can I ask the obvious question, which is why? I might be wrong, but I feel like even if a loan officer says they only need one tax year, an underwriter is going to ask for more? I am being asked to provide three years preemptively, going into underwriting. If you provide W2s, they want to confirm your returns with the IRS regardless. 

[frugalQ]

I believe the 2 year returns is a FHA/Fannie Mae requirement...not a lender overlay.

[Anonymous]

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@supervelous wrote:

I'm a W2 earner, but would like to only provide 1 year tax returns.  Can provide 2 years W2's and paychecks.  Am about to do my 2014 taxes and want it to be the only tax return I provide.  See online many lenders want 2 years, any with 1 year?  My FICOs are pretty good, 740-770 range for all 3, about 85K base salary plus 10% bonus, no outstanding debt, 9 years in same job.

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The answer is simple.. None unfortunately..

[Anonymous]

YesMe told us why he needs a lender only wanting 1 year tax stuff-

"The answer is simple.. None unfortunately.."

Well Me, that's gonna be a issue.

Even if you can find a guy to float that note, you might decline the offer, because I'm thinking gonna pay a HIGH price for it.  I dunno much, but giving out mortgages on just one year of verifiable income is bad business.  I had to submit THREE years, and I've been on a state pension for 10 years, and my wife on her same job for 33.  They told me, "well thats all nice, but send the paperwork anyway."

I suggest patience.  Keep on your job, and file for 2014, and 2015, next year at this time.  I don't think you oughta muddy up the water on a longshot.  (burn a bunch of inq, and stuff like that.)  Keep us posted.

[Gunnar419]

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@Anonymous wrote:

YesMe told us why he needs a lender only wanting 1 year tax stuff-

"The answer is simple.. None unfortunately.."

Well Me, that's gonna be a issue.

Even if you can find a guy to float that note, you might decline the offer, because I'm thinking gonna pay a HIGH price for it.  I dunno much, but giving out mortgages on just one year of verifiable income is bad business.  I had to submit THREE years, and I've been on a state pension for 10 years, and my wife on her same job for 33.  They told me, "well thats all nice, but send the paperwork anyway."

I suggest patience.  Keep on your job, and file for 2014, and 2015, next year at this time.  I don't think you oughta muddy up the water on a longshot.  (burn a bunch of inq, and stuff like that.)  Keep us posted.

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"None unfortunately" didn't come from the OP. It was an answer TO the OP.