Choice Mortgage Bank, Inc helps people in getting the tax returns as it is very important during the financing process, your lender will check all the details before financing you. We serve our clients throughout the South Florida area.

1. SophiSticated tax
RetuRnS

2. Why Your Tax Returns Are Considered to be a
Big Part of the Mortgage Process
There are many intricate aspects in getting a
mortgage here in South Florida. Do you have
your own business? You will need a 1099 form
from the last two years. Do you collect a
paycheck from a boss? You will need a pay stub
from the same time frame. You will need any
sort of canceled checks you may have around.
You will need other things such as your bank
statements and your profit and loss statements.

3. The Most Important Thing You Will Need is
Your Tax Return
You cannot get a better quote
on your adjustable rate
mortgage Boynton Beach
unless you have the tax
returns. Many clients ask why
the tax return is so important
during the process. Listed
below you will find a few
important reasons why they are
important.

4. 1) A client’s full picture is not disclosed by the
first two pages. Lenders need the full tax
document to go over everything. The first two
pages will offer some insight, but not everything
that is necessary.

5. 2) Somewhere within the documents is a form
known as the Form 4506-T. This is valuable.
This way your lender can get a full transcript
from the IRS. This transcript is needed to go
over everything. Some questions are not
answered by the tax return alone. This is why
this form is part of it.

6. This form is helpful to
those looking to obtain
one of the lower fees
attached to the
adjustable rate
mortgage Boynton
Beach has to offer.

7. 3) Another benefit this serves is with the loan
fraud. Your lender or bank wants to see if there
are any irregularities. The bank wants to see if
you have committed loan fraud before. This
information is not so readily available within a
W-2 or 1099 form.

8. 4) Banks and lenders want to know about all the
income. Some clients fail to report certain types
of income. Things like business expenses and
rental property income sometimes fail to get
mentioned. Some do this intentionally. Others
do this unintentionally. Banks and lenders need
to know this.

9. How Can I Get The Returns Faster?
The IRS is known to move
slower on those who owe
money, compared to someone
who is getting a refund. It
depends on the persona and
situation. Are you someone
who owes money, yet are trying
to get a mortgage application
process completed?

10. 1) Give them a call. Find out if they can escalate the process
much faster for you.
2) Visit the office personally. Sometimes this speeds them up.
Some do not take a phone call seriously enough.
3) Pay off any debt you may have. This another way to speed
things up. It will also prove to be effective with your tax
returns.
4) Your tax returns may be showing you are refinancing
something else right now. Take care of this situation. This
will lower your debt load.

11. Three Tax Return Income
Preparation Tips
1) Sometimes you may not need
the returns at all. In some
cases, your W-2 forms will be
enough. Ask your lender or
bank which forms they do
need. Ask them about the tax
returns. They do help but
sometimes are not necessary.

12. 2) Say you are off to a slow start. File an extension. You
will have to October of the same year to get it done.
Talk to your bank or lender about what you are doing.
Provide them a copy of the extension. This will serve
until you are able to get your tax returns in.
3) Say you are self-employed. Say you have only the tax
returns for about 6 months. This will be good enough
for most lenders and bankers. All they require is
enough to tell the story.

13. The mortgage process can be terrifying as it is.
The more you have your paperwork in line, the
better off you will be.
Go online and check out our site. We are here
to serve any and all clients here in the South
Florida area. Visit us at
http://choicemortgagebankinc.com/.