Underwriting Tip – Verification of 401(k) funds

FHA – Requires terms of withdrawal on all 401K funds that are provided even if the funds are not being used or withdrawn at closing. Generally these terms are available for download from an HR Web Portal.  Persons employed by smaller companies may need to contact their HR Director in order to obtain that information from the plan administrator.

Ricardo Cobos is a Mortgage Loan Officer in Raleigh North Carolina, for expert advice on FHA loans and other types of low down payment and low interest mortgage loans call (919) 526-0183 

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