can you get a mortgage if you owe back taxes?

Answer 1

do you mean income tax?
all debts will show on your credit report which would make it lower
it's hard to borrow money with a low rating

Answer 2

it depends. Do you owe local, state, or federal taxes? Or do you owe real or personal property taxes? Sometimes, depending upon where you owe, what you owe, and how much you woe and for how long makes the decision. You can owe real property taxes in some states without them being considered "delinquent', and you won't have to pay them off before geting a mortgage. Is the tax you owe on the property you are trying to get a mortgage on? If so, yes, they'll probably want THOSE paid. You really need to be more descriptive of what, where, when, and how long.

Answer 3

It depends on your mortgage company. They WILL find out about it when they do a title search and credit check. Your best bet is to pay the taxes before you apply for the mortgage. That will show that you are responsible and trustworthy. Otherwise, the mortgage company may still loan you the money, but could give you a higher interest rate because think you're a poor risk. That will end up costing you lots more than the cost of paying the taxes.

The mortgage company may also be willing to loan you some extra money so that you can pay the taxes, but in my opinion that's a bad deal. You'll be paying interest on that money for the life of the mortgage, and it will cost you much, much more that way than if you just paid them now. Or they may just decide that if you can't afford to pay the taxes, you can't afford to pay the mortgage, and you'll be stuck renting or living with your relatives forever.

Answer 4

It is possible. Usually the company will roll it into the loan or require you to pay the amount at closing. If you get in this predicament again, the government will attach a lien to your property, and if you already own property, it probably has a lien against it. If it is property tax that you owe, you may lose the property you already own. Talk to a lender. As a former loan officer, I have helped people out in these types of situations, but there are a lot of factors that will be taken into consideration before you receive any type of loan approval. I have turned down customers for owing back child support. Some states report that to the credit bureaus.

Answer 5

Yes you can. However, you will have to pay those back taxes that you owe at closing. I just did a loan last month and the woman owed about $3,000. They just added it as a fee to be collected at closing. Not a big deal. Just let your Broker/Lender know, either way they'll find out. Hope I helped!

Answer 6

Yes, although you need a great mortgage broker and you will probably be paying a hire rate sometimes you can roll the taxes into the loan and pay them off at the table.

Answer 7

Yes, you can get a mortgage if you still owe back taxes. It is easier if you already own your home.

Answer 8

It depends on what kind of taxes you are talking about. But, if there is a lien filed against the property, then you have to pay it before the attorney can close the loan. Because most lenders require 1st lien position, and if a lien has been placed on the property, then they would not be in 1st position should they have to foreclose.

Answer 9

Sorry, that is a negative. You gotta pay Uncle Sam first.

Plus it doesn't look good to the bank. Why would I give you a 300,000 dollar loan for a house when you can't even pay back your taxes?

Answer 10

They will most likely make you pay them before getting the mortgage