Your Tax Return Can Sabotage Your New Home

Your Tax Return Can Sabotage Your New Home

Smart Home Buyer Tip :Tax Returns can trip up your approval.  

One of the things that works against people, no matter what income level, is dealing with Tax Returns.

Providing 2 years of tax returns a required step to getting approved for your home loan. Some people can shoot themselves in the foot when it comes to the IRS and how they file. 


If your CPA or Turbo Tax suggests all kinds of great write-offs, even if they are perfectly legitimate and legal, at the end of the day, the lender will use the adjusted gross income you report on your taxes to qualify you for your mortgage. 

Remember, if you were able to save paying tax dollars by reporting all of your deductions, effectively lowering your overall income and tax bill,

 that lower income will also be reflected in how much home you can qualify for.

 And you may not like that number.

This can be a tricky area and you need to speak with Brian Webber (940 859 1477) if you have questions. It is best to be strategic  when planning on purchasing a home. 

Keep your debts low and your reported income high is the best strategy for being approved for the highest loan amount you can comfortably afford.

Member Clients get HUGE DISCOUNTS on their Real Estate Transaction

Learn more>

Edie Webber Headshot
Phone: 817-798-6630
Dated: April 9th 2016
Views: 510
About Edie: My current state of happiness and realized dreams is the hard won result of a lifetime journey. I ha...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Pinnacle Realty Advisors
3824 Cedar Springs Rd #801-7724
Dallas, TX