Client has 401K w/employer and needs to borrow money

I am working w/a client that has a 401K thru her employer and needs to borrow funds to purchase a home, she was told that she is not eligible to borrow since she has a 6K loan she is currently paying on. If she were to pay that loan off she would still have to wait 60 days to take out the loan for her down pmt any advise or help from the group.

Does anyone know if she could do an assignment to a private lender for the money she needs to get into her home? They are having to purchase thru owner financing due to some credit issues that we are working out thru a credit repair program.

Also want to mention I just joined the group and look forward to working with this fine group of people.

Thank You



Views: 52


You need to be a member of Real Estate Finance to add comments!

Join Real Estate Finance

© 2024   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service