I have a Tax Bill - Can I get Approved?

Is the IRS mthly Payment included in the 30% debt? The IRS mthly repayment plan will not cause you to be denied for a loan as long as you can document the installment plan and provide proof that you've made at least 3 payments. As for the Home for $375k, I just need to know if the 30% includes the IRS mthly payment to determine if I can make it work.

Give us a call at 864-438-4550., So we can help you get approved. We are locally here in SC.

More info needed, however, based on the limited info you provided, it's unlikely.. Here are the key issues.. 1. If you have already started making payments *(at least 3) to the IRS, then that monthly payment will have to be added to your debt to income ratios for qualifying purposes.. If not, then you need to wait till you have made at least 3 payments. 2. Assuming you calculated your debt ratio correctly, and the 30% includes the IRS payments, then you would qualify for a maximum housing payment of $1,250. *(not enough for a $375K home for sure), so 3. We would need to know how much you plan on putting down on the home as well.. Example: If you plan on putting $200K down, and finance $175K, then it's possible, but even then, we would need to know the taxes and insurance costs to zero in on a monthly payment.. In all reality, there is so much info missing, that I can only make assumptions.. For this reason, I suggest you contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893