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Union Home Mortgage Review – How a mortgage underwriter will review your income on your taxes when applying for a home loan

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Always consult with your CPA or Tax preparer/advisor on how to properly file your state and federal tax returns.

Income answers you need to know when purchasing or refinancing a home. What the mortgage underwriter will review on your federal taxes returns when qualifying for a home loan.

Watch the deductions on your taxes, if you are looking to refinance or buy a house you need to know what the underwriter will review on your 1040s to use as qualifying income to determined your debt to income ratios.

Let’s discuss your goals on home financing before you file your 2014 taxes. You you complete and file could hurt your ability to move forward with a home refinance or home purchase.

Always consult with your a CPA or Tax prepare/advisor on how to properly file your state and federal tax returns.

Call me to review those taxes

Nathan Rufty
Licensed Mortgage Professional
NMLS #292056
nathan@nathanrufty.com
www.nathanrufty.com
909-503-5600 – cell
909-230-4395 – work
909-557-2303 – fax
Mountain West Financial
9227 Haven Avenue #110
Rancho Cucamonga, CA 91730

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16 Comments

  1. Lisa Larry
    July 25, 2021 at 10:10 pm

    I’m not required to file/pay taxes. I-am 100%disabled Veteran.

  2. Look Like Famous
    July 25, 2021 at 10:10 pm

    Do you need to submit all of the taxes in order to be considered for a home loan?

  3. P T T
    July 25, 2021 at 10:10 pm

    Associating your ability to buy a home with your tax return is insanity. The IRS must be involved because they are rewarding people who don't know how to reduce their taxes. Smart people are being punished. So most loans are going to insolvent working stiffs.

  4. WISEGUY
    July 25, 2021 at 10:10 pm

    Can you explain to me what a Residential Mortgage Loan Underwriter is compared to this video ? Please would really appreciate it

  5. bogey19018
    July 25, 2021 at 10:10 pm

    How much do I need to make after write offs in order to apply for a 150k loan.

  6. TheNmg101
    July 25, 2021 at 10:10 pm

    Thank you for making this video for the general public, they need to know before the set themselves back yrs in the homebuying process.

  7. Jennylyn Wall
    July 25, 2021 at 10:10 pm

    PLEASE HELP ME!! READ MY LAST COMMENT, PLEASE I BEG YOU.

  8. Jennylyn Wall
    July 25, 2021 at 10:10 pm

    I need real help, really bad… I took care of my mom n dad for 6 yrs, my sister was not in the picture. I had my house in mom's name for 15 yrs because I borrowed $10,000. From her. When mom died, my sister who never came to see her in the hospital or nursing home for a yr and a half. I went every single day. My sister did not even come to mom's funeral. She swooped in on dad because he was worth a million dollars. She found out that my mom had my house in her name (even though I paid the loan off 12 yrs ago, I just left it there, it was safe. It was with my mom, and everything was setup automatically to come out of the house account. I would put the rents in, all bills would come out,simple)well since mom passed it became dads, my sister took over and munipulated dad. With in 3 weeks of mom's passing my sister got dad who is blind maculer.degeneration to give her power of attorney. She then put my house up for sale and took away all my manegural rights. She took the rents, I could not open my shop, had to close my doors, she took the almost $10,000. In the house account and took all the tenants security money. It took every dime I owned $18,000. To hire a lawyer to fight my sister to show it was put in mom's name because of the loan and the loan was paid off over 12 yrs prior. It took 2yrs to fight her n win my house back. I could not afford another lawyer to fight her for the money,when I was totally broke she had dad sign a new will (she was not in the original will mom and dad wrote 10yrs ago) giving herself 80%and her 2 kids 10%each. Cutting me out totally. Mom and dad even set up a trust account for me with over $500,000.in it she transfered that to her husband. 16 days after she had dad sign all the papers she made dad incompatent and got gardenship..(dad is still alive and I have him taped on more then 20 phone conversations that he never changed the trust or the will) I had no money to fight her, she had all dad's money to fight me. When I got the deed back I was shocked to find out my sister took all this money, houses account $10,000., security $3200.00, and the rent for 2+yrs $60,000. And never paid the taxas. I have till August 1 to come up with $25,000. Or I loose the house rental property and my shop worth over $200,000. I do not have tax returns, note did I have income for the 2yrs my sister jerk ed me around. Now I won my house back, I am getting the rents, my shop is reopened, but I can not get a loan anywhere. There is no mortgages on the house, but I still can't get a loan. Please if anyone can help or knows and can set up a go fund me page. Please I beg you please help me, PLEASE!!

  9. BIGDAVE5352
    July 25, 2021 at 10:10 pm

    Fuck this shit! For what you pay in taxes you can just pay for the property cash with the money you would be paying in tax. You can either pay the tax to get the mortgage or just fuck the taxes and just pay for the house. Remember! The banks were bailed out by the government. So now the banks have to make you pay your taxes before they give you a mortgage. It’s all a scam.

  10. Jake McGrae
    July 25, 2021 at 10:10 pm

    what's the difference between Actuary and Underwriter?

  11. moon&stars11
    July 25, 2021 at 10:10 pm

    Thank you so much for posting this! I have a question for you, will the underwriter count medical expenses/deductions the same way? I had a ton of medical bills I paid off last year and was able to write them off,will this be a problem?

  12. Simone Swindell
    July 25, 2021 at 10:10 pm

    OK we are in a situation where my husband has written off 14000 of his income and not does not gacell enough income. my loan office has just found this and our expected closing date is in two weeks? he is a dj. what can we do to fix it so we can get a loan

  13. Zxyw 0987
    July 25, 2021 at 10:10 pm

    Why isn't this done before the pre-approval? To deny a loan after all the time and investment should be a crime.

  14. Fiiv Media
    July 25, 2021 at 10:10 pm

    Thanks for making this video! Just went through this with one of my borrowers. He wrote off almost half of his income…

  15. Simple&Cool SimplyCool 23
    July 25, 2021 at 10:10 pm

    k

  16. sugarfuut
    July 25, 2021 at 10:10 pm

    Thanks for making this video. I'm a new loan officer and still learning how to read the tax returns accurately. This was very helpful.