What are chances of getting a home mortgage?

Question

Hubby hasn't filed his taxes for years, he won't let me file separately as he wants me for a "tax deduction"! We have fought about this for years. Now we want to buy a house. Our credit scores aren't back (he's in 650s, I'm in low 700s) but how will this affect our being able to get a mortgage?

Answer 1

Is he self employed?  That is the only time tax returns are needed.  Why isn't he filing his taxes?  Does he not make enough money or is he evading taxes?  How are you a deduction if he isn't filing?  I have a feeling there are going to be some tax liens show up somewhere.  You should be filing on your own.  You are liable, too.  Pay your taxes.

Answer 2

To get a mortgage you need to supply the lender with the last two years' tax returns.  Since you never filed them you are unable to produce them.    

Answer 3

You know if the fed finds out that you haven't filled you and your husband won't need to worry about your credit score nor a mortgage, you'll get a studio with a roommate (can you say tax evasion) and you will still have to fill taxes.

If you get your taxes fixed and depending on how much you owe you may not be able to afford to get a house.  

If you have a good income and show you are able to pay the payments you should be fine.  Be sure to have a large enough down payment to avoid PMI.  

Answer 4

If the borrower is salaried/hourly we may not need the tax returns.  Current paystub (30 days worth) and 2 years w-2's.  Unless you are self employed or have other income (rents, ss, anything) you may not need tax returns.