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FHA – Requires terms of withdrawal on all 401K funds that are provided even if the funds are not being used or withdrawn at closing.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 

This article was written by ricardocobos

Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. With personal production of 8MM in real estate sales across Southern Wake County I am considered to be a local market expert in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603, 27604, 27606, 27609, 27610)) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183