Ask Experts Questions for FREE Help !
Ask
    Tackia's Avatar
    Tackia Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Mar 21, 2012, 11:01 AM
    How much of 401k can be used for income for mortgage?
    How much of 401k can be used for income for mortgage?
    Tackia's Avatar
    Tackia Posts: 4, Reputation: 1
    New Member
    		  
    #2

    Mar 21, 2012, 11:06 AM
    Please identify which sources of funds would be unacceptable.
    Please identify which sources of funds would be unacceptable.
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
    Jobs & Parenting Expert
    		  
    #3

    Mar 21, 2012, 11:07 AM
    Funds stolen from my elderly neighbor would be unacceptable.
    Tackia's Avatar
    Tackia Posts: 4, Reputation: 1
    New Member
    		  
    #4

    Mar 21, 2012, 11:10 AM
    An appraisal is good for how many days?
    An appraisal is good for how amny days?
    Tackia's Avatar
    Tackia Posts: 4, Reputation: 1
    New Member
    		  
    #5

    Mar 21, 2012, 11:12 AM
    What source of funds would be unacceptable when applying for a mortgage?
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #6

    Mar 21, 2012, 11:15 AM
    Depends on the supplier, but normally 30 days or a calendar month.
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
    Jobs & Parenting Expert
    		  
    #7

    Mar 21, 2012, 11:39 AM
    What choices are there?
    smoothy's Avatar
    smoothy Posts: 25,492, Reputation: 2853
    Uber Member
    		  
    #8

    Mar 21, 2012, 12:44 PM
    None of it without penalty unless you are old enough for disbursments. How old are you?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #9

    Mar 22, 2012, 05:49 AM
    Tackia: please clarify - are you asking whether you can list 401(k) withdrawals as a source of income on a mortgage application?
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #10

    Mar 22, 2012, 06:56 AM
    The initial question is vague and can not be answered so no rating is appropriate.
    mmresd's Avatar
    mmresd Posts: 2,002, Reputation: 553
    Ultra Member
    		  
    #11

    Jun 20, 2012, 06:23 PM
    Any source of funds that were obtained illegally or are not provable, such as stolen money from a bank, or rental income that is paid in cash and cannot be traced.
    mmresd's Avatar
    mmresd Posts: 2,002, Reputation: 553
    Ultra Member
    		  
    #12

    Jun 20, 2012, 06:24 PM
    It depends how much you have, your age, and if you are willing to pay penalties or not, other than that... zero.
    mmresd's Avatar
    mmresd Posts: 2,002, Reputation: 553
    Ultra Member
    		  
    #13

    Jun 20, 2012, 06:25 PM
    Normally 30 calendar days.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Withdraw 401k to catch up on mortgage payment? [ 3 Answers ]

I'm currently about 3 months behind on my mortgage payment. I've started a new job about a year ago and am trying to make ends meet. This current job has a separate 401k plan, and I still have funds from my last job in a 401k that is less than $7,000. Would it be worth it to withdraw from my...

401k to P/O Mortgage [ 1 Answers ]

I am 56 Female who has worked for the same co. for 30 yrs. I have had my townhome on the market now for 1 year. I want to sell but the value of my home has declined over $50,000. In the last 2 years. My townhome is currently valued at about 235,000. Which happens to be close to what I owe. I...

Lump sum from 401K to pay off mortgage [ 1 Answers ]

My wife may be losing her job and the prospects for another are rather bleak in this economy. She currently has about $150,000 in a 401k. We currently owe $52,000 on a $350,000 home with 4.5 more years at $1,125 per month. Does it make any sense to take a lump sum payout as a hardship and pay off...

Will lenders use income from 401K for mortgage approval [ 2 Answers ]

We have over 500K in 401K and IRA's. We are over 60. We also have 300K in CD savings; our income is 60K annually. We would like to purchase a 500K second house, put down 270K in cash and borrow 239K as a 15 year mortgage. I'd like to use one 220K retirement account to pay that mortgage. ...

Use 401K to pay off 2nd Mortgage [ 2 Answers ]

I have about $40,000 in a line of credit on my house @ 8.0% variable. I am 68. Should I use $40K of my $250,000 401 K money to pay off this line of credit? Then use the money I am paying on the loan (about $400 per month) to rebuild the 401 K?

View more questions Search