Regular Contributor
ccubedzx3
Posts: 171
Registered: ‎04-30-2012
Re: Can savings come from 401k? or must be from "savings" account?

I plan on taking a loan out either way.  My main question is, will the mortgage company look at my 401k loan as "savings" or will treat it like something else?  I am paying off items like a banshee right now, so I don't have much in my "savings account."   I want to know if I should contribute more to savings right now to build up funds in addition to what I plan on using from my 401k?

 

Thanks for the advice in advance!


Starting Score:5/22/10 590
Current Score: 6/11/13 670
Lender Mid Score: 6/11/13 670

Goal Score: 700


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