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If I take money from my 401k to cover closing cost during underwriting, will this hurt the process and will they deny my loan?

by ortiz.carlene119 from Charlotte, North Carolina. May 11th 2016 Reply


Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 431 contributions

Pulling funds or borrowing funds from a 401(k) is standard and common in mortgage lending. You should have no problems whatsoever.

May 12th 2016
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Pete Bass (PeteBass)
#31 ranked lender in Connecticut - 476 contributions

Hi Carlene-This is common practice as long as your 401K terms and conditions of withdraw allow you to do so:) This should not hold up your loan process.

May 12th 2016
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