Mortgage Approval

Unfiled tax returns and back taxes can seriously impact your chances of getting a mortgage. Lenders typically require at least two years of filed tax returns to verify income. If you haven’t filed, they may see you as a financial risk and deny your application. Outstanding tax debt, especially if it has led to a lien, can further reduce your eligibility, as lenders are hesitant to approve loans when the IRS has a legal claim on your assets. Even if you’re on a repayment plan with the IRS, the monthly payments will count toward your debt-to-income ratio, potentially making it too high for approval. To improve your chances, file all missing returns, set up a payment plan or resolve the debt, and provide documentation showing you're actively addressing the issue. Some lenders offer alternative loan options, but these often come with higher interest rates and stricter terms. Compliance is key to moving forward.

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