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

By Craig Bosse

Mortgage and Lending with Change Home Mortgage NMLS 1019442

March 14, 2019 07:56 PM

Re-Blog

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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

Danville, CA

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