I am going to take a loan from my 401k to cover some of the down payment and closing cost (12k) before closing (6/30).
My question is whether:
(1) This is usually frowned upon on (by the Loan Underwriter), and
(2) Could I just loan it out 14 days before closing? So, the money would only be in my Checking for less than 1 week. I figure this is okay as it will be a verified deposit?
Any insights will be very helpful!