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Hello Kellie, yes you can if you have made atleast 3 payments on time and you qualify. Do you have down payment and closing costs saved or do you need down payment and closing cost assistance programs? Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and military service. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary if applicable. You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 424k.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
24+ Years Experience
Lenders are looking for the right Borrower purchasing a good Home to cover their risk. Because you have debt with the IRS, (I assumed doing installment payments) this make it challenging for any Lender. Why? The IRS has the right to Lien property. Lenders /Insurance companies don't like that risk. How it affects you:
Assets — A lien attaches to all of your assets (such as property, securities, vehicles) and to future assets acquired during the duration of the lien.
Credit — Once the IRS files a Notice of Federal Tax Lien, it may limit your ability to get credit.
Business — The lien attaches to all business property and to all rights to business property, including accounts receivable.
Make a Plan and take action. You can finish the payments and RESET your FINANCIAL PICTURE faster than you think. Good Luck ! - LUCY WHITAKER