---

Will taking a loan against my 403(B) affect my ability to ge

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
shaantiwilliams Joined: 28 Jul 2008 Posts: 1 1.28 Dollars($)	Posted: Mon Jul 28, 2008 4:29 pm    Post subject: Will taking a loan against my 403(B) affect my ability to ge Like 0 Dislike 0 I am interesting in taking out a loan against my 403(b) in order to help finance the purchase of my first home. Will the 403(b) loan affect my ability to get a mortgage or a favorable rate?
evolovik26 Community Expert Joined: 15 Aug 2007 Posts: 537 Location: Minneapolis 28.93 Dollars($)	Posted: Mon Jul 28, 2008 9:22 pm    Post subject: Like 0 Dislike 0 It is most likely will affect your Debt To Income Ratio but if that is ok it should not have much effect on anything. _________________ Eugene Volovik Home Loan Consultant Countrywide 612-481-3127 Conventional, FHA and Commercial Lending in 48 states
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Tue Jul 29, 2008 4:43 am    Post subject: Like 0 Dislike 0 Hi shaantiwilliams. Welcome to the forum. Taking out a loan against my 403(b) may not affect your ability to get a mortgage loan but it not a good idea to take out a loan against my 403(b) as it is going to reduce the 403(b) fund and you will be paying interest on your own money. If you don't have money available for the down payment then wait a bit and try to save for the down payment and closing cost. Feel free to ask if you have any further questions. Best of luck, Larry

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0