Why Does It Make Sense to Pay Off Your Mortgage Early?
Financial experts offer differing perspectives, so find out what makes sense for your individual budget and long-term goals.
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As part of the mortgage underwriting process, you’ll often be asked to produce your prior tax returns. If you’re securing a mortgage, it’s safe to say you’re in it for the long haul – it’s a big deal and a major long term financial commitment for you, and for your lender. So, they ask for documentation that offers a clear picture of your current and projected income stream. The lender wants to make sure you’re not a risky investment before approving your application. In many instances, as part of this process, they ask for prior year tax returns. Here’s our quick guide to what mortgage lenders are looking for, and why: