Common mistakes on your tax return can affect your ability to qualify for a home loan.
Learn about these common mistakes, and how to prevent them in our blog: How Are My Tax Returns Used in the Mortgage Lending Process?
I wanted to take the opportunity to share some information on how important tax returns can be in the lending process and to share some incidents I have seen recently that could have resulted in loan denials. Fortunately we were able to assist our borrowers through each of these incidents without significant delay.
Tax Return Mistakes Can Be Overcome
Sometimes we find that mistakes on tax returns have to be dealt with from a lending perspective. Since our company owners are experts in law and accounting, we can often deal with the mistake by explaining it to the lender and submit documentation. Other times, correcting the mistake is more involved.
A mistake on a tax return can increase your interest rate, and possible even prevent you from getting a home loan. In these cases, it’s important to work with a Mortgage Broker who can help correct the problem.
At Marimark Mortgage, we have experience helping clients who have innocently made mistakes on tax returns, and we would be glad to help you.