How this may affect qualifying for a Denver home | Filing Tax Returns
Filing Tax Returns How this may affect qualifying for a home loan As it comes time to file a new federal income tax return, there are a few important items to keep in mind; specifically when it comes to obtaining a Denver home loan. Until April, when the tax fi ling deadline approaches (generally April 15), lenders will use the proceeding 2 years filed tax returns to calculate income for a Denver home loan.
Below are a few items that can affect your Denver home loan pre-qualification:
• Declining Income from year-to-year - if your income has declined from the previous year to the current tax fi ling period, this may be a problem. Be sure to discuss with your lender.