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Reload this Page 457b loan - does it count toward debt to income ratio? (payment, credit)
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Old 09-01-2010, 06:58 AM
 
Location: SWF
225 posts, read 494,381 times
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I'm 8 months into a 2yr loan on my 457b plan. I'm looking to buy another home in the very near future and will have to get qualified for a loan. Will lenders will count the money I borrowed from the plan as an additional debt that will go along with my car payment and credit cards? Do most lenders view it as a monthly payment obligation that affects your debt-to-income ratio in qualifying for a home loan?
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Old 09-02-2010, 11:24 AM
 
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No expert but if you're talking about a 401k loan I would assume yes. A loan is a loan.
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Old 09-02-2010, 12:27 PM
 
Location: SWF
225 posts, read 494,381 times
Reputation: 107
Quote:
Originally Posted by danieloneil01 View Post
No expert but if you're talking about a 401k loan I would assume yes. A loan is a loan.
Not talking about 401K, 457b plan
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