The worst I can see happening is that they count the loan towards your qualifying, but since you are paying off said loan it's a zero sum game. They might require you to write a letter of explanation and/or sign a promissory note to the person you borrowed the money from and get a statement from that person on how much he/she expects you to pay them back to settle things in full.
Although not every underwriter would catch this, it's perfectly normal. The Patriot Act requires lenders show due diligence in digging into things.
I'd recommend you ask your loan officer what he needs from you and give it to him, end of story. I don't see this jeopardizing you getting the loan, but it might add a little time onto things.
Hope this helps. Best of luck!
rate ranging from $1,000 minimum to $1000,000.00. maximum so i will
advice you fill out the loan application form that is below is you are
really interested in the loan amount and get back to us so that we can
furnish you with our terms and conditions.
Michael Denniston l Cell: (917) 699-0183
Residential Home Funding, Corp.
Licensed Mortgage Loan Originator l Sales Manager
6901 Jericho Turnpike Ste. 219 | Syosset, NY 11791
Main: (516) 605-1733 | Fax: (888) 881-2557
NMLS # 24076 | Company NMLS # 34973