Financing in Merrick>Question Details

George, Other/Just Looking in Merrick, NY

Can I borrow from my 403b ? If so, what percentage of my balance can I borrow ? Thanks !!!

Asked by George, Merrick, NY Tue Oct 28, 2008

Help the community by answering this question:

Answers

1
You should call your plan administrator to get the correct answer. There should be a telephone number for customer service in your quarterly statement.

If you plan to borrow from your retirement plan for down payment and finance the rest, the mortgage underwriter will require a copy of the terms of the loan, repayment schedule, and if the payments will be deducted from yuor paycheck. Just a heads-up if that is your intent... it's easier to plan to have those documents when you take out the loan rather than trying to chase them down later when underwriting makes the request. Your plan administrator should know what is required... it's a common request
0 votes Thank Flag Link Tue Oct 28, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer