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just to confirm, banks will accept a 401K balance as "cash reserves" minus any outstanding loan? Example. I have 100,000 in 401K, i took out a 25,000 loan in 2008, paying 260 every check x 2 = 520 a month. The balance today is 17,000 on the loan. so it would be 100,000- 17,000= $83,000 i have available in 401k. how much of the $83,000 would be taken into consideration as cash reserve??? I only have 3,000 in my savings after i used up almost all my life savings for the 20% down payment. LTV is 80%.
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