i am currently at the ‘final’ stage of my conditional approval. recieved final closing disclosure and signed on 08/01/16.
Conditional Approval 07/29/2016 Appraisal Ordered 07/05/2016 Submitted to Underwriting 06/24/2016
THE underwriter has accepted all of my conditions except 2.
1. they are asking for a 2015 IRS extension
i do not have this because i dont owe the IRS i just havent filed yet. I have provided all W-2’s and past tax returns fom privious years. I had a business that stopped operating in 2015 which the underwriter has recieved proof of and accepted. i am no longer relying on self employment income (in addition to my regular salary job). I only have my salary moving forward.
MY QUESTION: i am suppose to close on AUG 6, 2016. will not having the 2015 extension prevent me from closing? (since i dont owe the IRS anything i am still within my time frame to file for my refund right?) Is the only way around this to file my 2015 taxes? even then i will have to wait for the official IRS transcript right?
just looking for some guidence as to what to expect and what to do.
the loan : FHA LOAN
2. condition wa just letter of explantion for a couple of large deposits (which i recently turned in tonight.