{"id":7731,"date":"2023-03-23T13:27:41","date_gmt":"2023-03-23T18:27:41","guid":{"rendered":"https:\/\/www.morty.com\/resources\/?page_id=7731"},"modified":"2023-04-10T12:18:38","modified_gmt":"2023-04-10T17:18:38","slug":"retirement-funds","status":"publish","type":"page","link":"https:\/\/www.morty.com\/resources\/mortgage-manual\/assets\/retirement-funds","title":{"rendered":"401(k) or Retirement Funds"},"content":{"rendered":"\n
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401(k) or Retirement Funds<\/h1>\n\n\n\n

Using Retirement Funds in Your Mortgage Application<\/strong><\/h4>\n<\/div><\/div><\/div>\n\n\n\n
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Resources<\/a><\/span> > Mortgage Manual<\/a><\/span> > Assets<\/a><\/span> > 401(k) or Retirement Funds<\/span><\/span><\/div>\n\n\n
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Vested funds from individual retirement accounts (IRA\/SEP\/Keogh accounts) and tax-favored retirement savings accounts (401(k) accounts) are acceptable sources of funds for the down payment, closing costs, and reserves. The lender must verify the ownership of the account and confirm that the account is vested and allows withdrawals regardless of current employment status. –\u00a0Fannie Mae<\/a>This section will cover all documents needed to support your 401(k).<\/p><\/div><\/div>\n\n\n\n

Action Items:<\/strong> Determine if you are using your 401(k) or retirement funds for your closing. Collect required documentation. Upload documents to your Closing Tracker. <\/p>\n\n\n\n

What do we need?<\/strong><\/h2>\n\n\n\n