New Update: IRA financed properties count towards your financed properties count & Income!

[Albert Bui]

On a recently conventional fannie/freddie transaction my head underwriter called in to FNMA/FHLMC and they have determined that these financed properties inside IRA's and Solo K's count towards the financed properties count (max 10 fin properties) and the payment on this loan also counts in the Debt to Income (DTI) calculation too so its more important than ever to ensure a sound mortgage, tax, and retirement planning strategy than ever. This is the government agency's determination not my bank New American Funding so I assume it will be wide spread with other banks as well. Any thoughts, concerns, questions let me know.

@Dmitriy Fomichenko @Amanda Han

[Matt Devincenzo]

Originally posted by @Jeff Rabinowitz:

Was he able to use the IRA assets to qualify for the loan? Why would the bank consider assets they would not be able to reach without great difficulty, if at all?

 Standard conventional underwriting guidelines allow for the use of retirement account balances to underwrite reserve requirements. They will discount the amount of cash available in the account to account for the tax and penalties that would be experienced in the event you did have to make the withdrawal.