You do NOT need to pay off the entire tax debt that you owe in order to qualify for a mortgage! Depending on the type of mortgage you are applying for - FHA or Fannie Mae Conforming - you will need to meet certain requirements. FHA Guidelines say: “Federal Tax Debts: Tax liens may remain unpaid if the Borrower has entered into a valid repayment agreement with the federal agency owed to make regular payments on the debt and the Borrower has made timely payments for at least three months of scheduled payments. The Borrower cannot prepay scheduled payments in order to meet the required minimum of three months of payments. The Mortgagee must include the payment amount in the agreement in the calculation of the Borrower’s Debt-to-Income (DTI) ratio. Federal Tax Liens: Tax liens may remain unpaid if the Borrower has entered into a valid repayment agreement with the lien holder to make regular payments on the debt and the Borrower has made timely payments for at least three months of scheduled payments. The Borrower cannot prepay scheduled payments in order to meet the required minimum of three months of payments. The lien holder must subordinate the tax lien to the FHA-insured Mortgage.” Conventional - Fannie Mae guidelines say: “When a borrower has entered into an installment agreement with the IRS to repay delinquent federal income taxes, the lender may include the monthly payment amount as part of the borrower’s monthly debt obligations (in lieu of requiring payment in full) if: There is no indication that a Notice of Federal Tax Lien has been filed against the borrower in the county in which the subject property is located. The lender obtains the following documentation: An approved IRS installment agreement with the terms of repayment, including the monthly payment amount and total amount due; and Evidence the borrower is current on the payments associated with the tax installment plan. Acceptable evidence includes the most recent payment reminder from the IRS, reflecting the last payment amount and date and the next payment amount owed and due date. At least one payment must have been made prior to closing.” TO BOOK A FREE CONSULTATION CLICK THE LINK BELOW https://app.acuityscheduling.com/schedule.php?owner=16250380 To apply for financing click the link below https://pages.convertkit.com/e09a3a29ba/4d35c58064 To join eyluniversity click the link below https://www.eyluniversity.com/