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do you all know if you need 1 or 2 years of tax returns for freddy mac loans

by lynn_scoffield630 from Fort Worth, Texas. Feb 25th 2015 Reply


Lynn Wilson (capitolmtgtexas@gmail.com)
#203 ranked lender in Texas - 4 contributions

You need 2 years tax returns regardless. If you'd like to discuss additional questions, please contact me at 817-939-8987. Lynn

Feb 25th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

All conforming loan programs require 2 years filed federal tax returns to determine your income for qualifying purposes.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 25th 2015
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

In most cases, 2 years.

Feb 25th 2015
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Sara Deere (Saraloveshomeloans)
#39 ranked lender in Kansas - 516 contributions

I agree with the previous answer's submitted that in most cases 2 years sometimes 3 years of tax returns are needed when providing information.

Feb 25th 2015
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,228 contributions

Freddie will sometimes allow only one year of returns to be used for SELF EMPLOYED borroers (not for those who are w-2 employees) but some lenders will still require 2. We do not have that requirement and go by the Freddie requirements and I often have self employed borrowers use a Freddie loan to make it easier. Let me know if I can help

Feb 25th 2015
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

You need two years tax returns.

Feb 25th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

If you get approved through Freddie Mac and receive a Streamline Accept approval you will only need one year of tax returns. That is of course as long as the lender you are going through does not have any additional overlays. This comes in very handy when you are self-employed too. In that case you still have to prove two years of being self-employed. Best wishes, Sean

Feb 25th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,565 contributions

Technically, it depends on what the computer wants. It may want only one year - but regardless of what the automated underwriting computer indicates, almost all lenders will require a full two years of tax returns.

Feb 26th 2015
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