I am buying a home and the lender ask for w2 forms, banking statements? can they find out if out taxes?is this just to verify my income or is to look at my banking information for later use, and my w2's to find out if i owe taxes? | |
I am buying a home and the lender ask for w2 forms, banking statements? can they find out if out taxes?is this just to verify my income or is to look at my banking information for later use, and my w2's to find out if i owe taxes? | |
They just want to verify your income, that's all. CONGRATS on buying a new home!! ;-)
Mary in Camden, MI
it is to verify your income.
HOwever, they WILL ask for tax returns, usually the past 2-3 years.
If you owe taxes they usually will not know. However, the IRS may have reported back taxes on your tax return.
Also, you are REQUIRED to list all debt owed, including the IRS. If you don't, you are committing mortgage fraud, a federal crime.