Posted on: 09th Jul, 2012 06:32 pm
will the banks consider IRA deposits as an asset (to qualify for a loan)when i puechase a home---my third home purchase?
Hi gs!
Welcome to the forums!
Well, it will be the lender's discretion whether or not he will consider the IRA deposits as your assets when you apply for a loan. In case of senior and retired citizens, the lender may consider them as assets.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Well, it will be the lender's discretion whether or not he will consider the IRA deposits as your assets when you apply for a loan. In case of senior and retired citizens, the lender may consider them as assets.
Feel free to ask if you've further queries.
Sussane
Welcome gs,
It will be better if you could directly speak to the lender in this regard and take his opinion. He will let you know whether or not the IRA will be considered as your assets.
It will be better if you could directly speak to the lender in this regard and take his opinion. He will let you know whether or not the IRA will be considered as your assets.
It depends upon the discretion of the lender. Anyways, IRA savings is a good thing for future security. But it is advised that you should not use it for taking out a home loan.