topic First Time Home Buyer - FHA Loan - 10 Days to closing - Past IRS Taxes in Mortgage Loans

First Time Home Buyer - FHA Loan - 10 Days to closing - Past IRS Taxes

Anonymous — Tue, 18 Sep 2018 15:57:25 GMT

I am a first time home buyer and building a spec home with a national builder. We are 10 days from closing and underwriting has been quiet. I have my final appraisal scheduled for 9/21. I am worried about the past IRS taxes that I have and I do not have a copy of my payment agreement. I sent in a letter to the IRS on 8/22 and still no word.

What will the lender accept if I am unable to get an actual copy of the payment agreement and how soon do you get clear to close after final appraisal?

Re: First Time Home Buyer - FHA Loan - 10 Days to closing - Past IRS Taxes

NC_Mtg_Loaner — Tue, 18 Sep 2018 18:10:38 GMT

well, every lender is different, but I'd recommend reaching out to your LO and sharing your info and concerns as this allows him to help guide you the rest of the way.

Imagine your LO as that guide that wants to keep you away from all danger and perils. Reach out to him/her for their expertise and advice yesterday.

Re: First Time Home Buyer - FHA Loan - 10 Days to closing - Past IRS Taxes

Anonymous — Fri, 21 Sep 2018 02:57:53 GMT

I got a message from my underwriter yesterday saying I had cleared all conditions and documentation! Thats crazy I didnt have to submit any supporting documents for the back taxes. Even better news today, I got clear to close!!

Only caveat is that they bumped my closing now from 10 am Friday 9/28 to 4 pm Friday 9/28!! I had movers scheduled and everything for Saturday and I highly doubt the funds will clear as we are the last ones. Ah well, C2C is music to my ears. I have been in this process since April 2017!

Re: First Time Home Buyer - FHA Loan - 10 Days to closing - Past IRS Taxes

SeanJC — Mon, 08 Oct 2018 14:55:35 GMT

Congrats! May I ask what lender you used, I am in the exact same position and have under 60 days in which I need to close. Thank you!