does fannie mae count my 401k in the DTI or any other ratios?
If i withdrew a small amount of 401k for a hospital bill will this affect my chances of good interest rates on a loan or will a lender understand. by d1_davey989332 from San Antonio, Texas. Nov 8th 2013
Joseph Afonso (jafonso)
#64 ranked lender in Arizona - 197 contributions
No, 401K loans will not affect your DTI ratios.
Charlie Sparks (CharlieSparks)
#8 ranked lender in New Mexico - 401 contributions
Since the loan is secured by an asset (the 401k) you own it won't be considered.
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,852 contributions
No... when taking money from a 401k, you are only borrowing your own money, so we don't count it at all.
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions
Not an issue at all, it only affects the amount that can be counted as reserves (if needed). The rate is impacted by your credit score, type of loan and other qualifcations.
Dave Metsker (DaveMetsker)
#36 ranked lender in Oregon - 2,318 contributions
401k is an asset, not a debt, so you are fine.
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