Home purchase and having funds

[Anonymous]

I have been pre-approved for a mortgage just haven't locked in a rate yet since i keep finding unacceptable properties.

i have about 2K saved up in a regular savings but i have two different IRAs one from my present employer and one from a previous employer. one has 10,500 in it the other about 7k in it. is this sufficient reserves or are the IRAs not factored in as reserves?

thanks for any advise.

ps... i have cut all my unnecessary expenses so im going to save up money fairly quick now.

[ShanetheMortgageMan]

As long as the funds aren't only payable upon termination, retirement or death, then 70% of the vested funds in an IRA can be used to qualify.