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I was going through a home loan but my loan didn't go through just because my 2019 Amended tax return has not updated in IRS records yet due to the covid-19 situation everything is delayed. Now my question is do banks accept stamped, singed, and dated Amended Tax Return copies if I go to an IRS office in person and have them do it? or they have to see updated transcripts?
I must know this because I need to travel outside ILLINOIS to visit an IRS office because all the offices are closed as of 10-15-2020 in illinois. Please let me know what is the best option for me?
"It depends" is your answer. Transcripts are seriously behind and many lenders are not requiring them. However, if you filed an amended 2019 return to increase income, you better believe that lender wants evidence that return was filed. Or the UW just wants to verify the X return was filed. Anyone can obtain their transcripts online, but some lenders will not accept those. Not knowing your circumstances, you definitely want to ask your loan officer.....and make certain they get your answer from the UW on your file.
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