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Valued Member
Mortgage_Quest
Posts: 33
Registered: ‎09-13-2012

At what point in the Underwriting Process should I withdraw 401K funds

I'm currently in Underwriting waiting with my fingers crossed for an approval but I've had one loan officer tell me to go ahead and withdraw my funds from my 401k so that when I get my conditions back I will be able to provide the documentation showing the funds in my account.  Then I had another process tell me to wait until the Underwriters come back with a conditional approval then withdraw the funds?  Any advice would be greatly appreciated...Thanks!

Valued Contributor
tooleman694
Posts: 2,296
Registered: ‎08-25-2011

Re: At what point in the Underwriting Process should I withdraw 401K funds

If you don't have any weirdness going on with your credit situation, I would go ahead and pull the money out.

 

If getting thru underwriting is questionable I could see waiting. But it will drag underwriting out.

Valued Member
Mortgage_Quest
Posts: 33
Registered: ‎09-13-2012

Re: At what point in the Underwriting Process should I withdraw 401K funds

Thanks I was thinking the same thing just wanted another opinion


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