Video Transcript:
Thinking about protesting your property taxes to save money? It's a smart move, but be aware it can create a major roadblock for your mortgage approval. Hi, I'm David Ghazaryan. As a lender, I am required by guidelines to use your current, higher tax bill for qualification, not the future, lower protested amount. This temporarily inflates your debt-to-income ratio. A small, temporary increase in your monthly housing payment can be the difference between getting your loan approved or denied. So, how do we solve this? We plan ahead. By strategically using a larger down payment, we can offset the temporary high tax figure and satisfy underwriting. The best part is that after your tax protest succeeds, that extra cash you used for the down payment isn't gone—it simply becomes instant home equity. Every borrower's situation is different, so it is crucial to get expert advice. For a detailed analysis of your options, find the links in the description.
Read Blog Here: https://www.iqratemortgages.com/blog/texas-tax-protests-and-your-dscr-loan-approval
