If you don’t want to sign a 4506-T, find a VA lender that doesn’t require it. And VA lenders are allowed to impose this requirement.
However, automated underwriting systems (AUS) may still list the form as a requirement to close your loan. Related: Self-employed mortgage borrower? Here are the rulesĪnd it’s pretty easy to create a phone tax return, so naturally, mortgage lenders want to make sure that the income you report to them is the same income you reported to the IRS.įor VA home loans, you don’t need a 4506-T, either. Mortgage lenders want to make sure that their income is trending higher, or at least not heading lower over time. However, self-employed borrowers have to demonstrate several years of successful business and sufficient income to get mortgage approval. Or lenders can just send a VOE (verification of Employment form) to your employer.
The lender may call your current employer to verify your income instead. The short answer is “no.” Because only information from the previous year is available, and that’s not usually a factor for W-2 employees, most folks with “regular jobs” won’t have to sign one.