October 15 extension to file taxes has passed!
Requirements for loans funding on or after October 15, 2014.
All FHA, VA, USDA & Conventional Programs where tax returns are required.
- 2013 “no record” 4506-T results and copy of 2013 1040 as filed (and/or business return, as applicable)
- 2011-2012 4506-T results validating the income used for qualifying (1-2 years as applicable to program)
- If applicable pull the 2013 W-2 and/or 1099 validations using the 4506-T
- If 2013 income is being used to qualify, full transcripts required, regardless of date
Any loan funding on or after 12/15/14 (where 1040’s are required*) will require a fully processed IRS transcript for 2013.
*self-employed, 1099’s, works for family owned business, rental, interest/dividend, note income, etc.
“Specialty products (including but not limited to 1030MP, all Jumbo 2030, etc.) will require full 2013 1040’s AND 2013 transcripts from the IRS for any loan funding on or after 10/15/14.