Category Archives: Home Mortgage

Do mortgage lenders check your bank account?

Borrowers looking for a mortgage to buy or refinance their home need to be lender approved to get the loan. Lenders issue loans based on many criteria that include credit score, assets, income, and more. The mortgage lender will verify … Continue reading

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Do lenders verify tax returns?

When you are applying for a mortgage, your potential lender wants to make sure you are telling the whole truth about your income and assets before approving your loan. To make sure there is no fraudulent activity, your lender will … Continue reading

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Why does my bank need a 4506-T?

A 4506-T is an IRS form also known as a “Request for Transcript of Tax Return.” This form requests that the IRS send you a copy of the tax return information they have on record, up to ten years prior. … Continue reading

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How does a lender verify income?

Buying a home is one of the most important and difficult steps many of us undertake as we try to get a foot on the property ladder. There are many parts to the process of buying a home, but one … Continue reading

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What You Need to Know About the 4506-Transcript Income Verification

If you are a financial institution such as a credit union, mortgage lender or bank, you may be able to take advantage of a recap regarding how 4506-Transcripts may assist you. The IRS grants wage-income transcripts as well as W-2 … Continue reading

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