Advice needed for 401k loan days before closing

Advice needed for 401k loan days before closingAdvice needed for 401k loan days before closing
Niikolay asked 5 years ago

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!

 

 

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