Need advice on resolving 'large deposit explanation' for closing funds

Seeking Advice
21

Rey said:
@Nico
That’s a relief. Thank you!

Just make sure the retirement account allows unrestricted withdrawals. Some 401ks restrict access while you’re employed.

22

If your lender can’t resolve this efficiently, consider switching. A good loan officer should have solutions like using retirement assets without overcomplicating things.

23

Hart said:
If your lender can’t resolve this efficiently, consider switching. A good loan officer should have solutions like using retirement assets without overcomplicating things.

I considered that, but the seller’s short-pay approval requires us to close by 12/31. I don’t have time to start over.

24

@Rey
You’d be surprised how quickly a good lender could handle this. You could be back on track within a day.