Only 5% Down-payment on a Secondary / Vacation Home

By
Mortgage and Lending with Change Home Mortgage NMLS 1019442

Comments (2)

Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Well who knew that my 401k counted toward reserves?  I've gotten 2 mortgages and never even showed that to a lender because I don't consider it "obtainable" funds because of my age.  

Mar 14, 2019 08:17 PM
Craig Bosse

Absolutely Tammy! 401k funds are usually counted as 60% "liquid" but it varies from program to program. Some programs count 85% or 100% of the vested balance. 

Mar 14, 2019 08:19 PM
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good Evening 

Thank you for sharing your information with us 

Have a great night.

March 15, 2019.  

Mar 14, 2019 09:42 PM
Craig Bosse

Thanks Anthony! You too!

Apr 03, 2019 07:02 PM