can i use my 401k for closing costs on a mortgage?

Yes... Not a problem. You just need to document you have the money to withdraw, and then document the withdrawal is now in the bank to use for down payment or closing costs.

Yes, you can utilize your 401K funds for down payment and closing costs

Yes, you can. However, you will need to request the funds upfront because it may take awhile from the time you request the funds until the time the money is actually showing available in your account. If you bank with Wells Fargo, they tend to hold onto all deposits unless you are a Premier customer. That means the deposit balance will show funds pending. In order to obtain a loan approval, the lender actually need to see this deposit showing as an available balance not a pending deposit. For more information call me directly.Jill BeilerOperations ManagerArizona Wholesale Mortgage Inc.602-358-8717Jill_Beiler@cox.net

Yes, you can.

Yes.. 401K's are acceptable sources of funds for down payment and reserves.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Yes, that is a valid source.

Sure, and most plans allow a loan rather than a withdrawal that you would pay a penalty and taxes on - so you are paying yourself back. The documentation required by the lender to show where you obtained the funds can be a little particular, make sure you talk to your loan officer about what will be required.

Well, first you need to talk to you 401k rep to make sure that your plan document/ plan summary allows you to do so. Also talk to your CPA and LICENSED Mortgage Loan Originator to make sure that the idea makes sense. Feel free to call anytime if you need help applying for your loan here in Arizona. Desert Springs Mortgage & Financial.623-432-1309 ext 120

Yes you can.

Yes. The lender will need to verify if you took a loan or a disbursement. If it is a loan then they will have to count the monthly repayment amount against your DTI