I have only enough in personal savings to cover the 20% down payment and the closing costs and a couple months reserves. I have enough in my 401k to pay my mortgage for 10 years. Will lenders count 401k as assets for determining reserves to qualify for a mortgage?
Sassy: You CAN withdraw 401k money. It’s my money. Everyone else: I know that I will pay tax and penalties on it, so no need to remind me. I’m just wondering if they will count it as an asset.