Refinancing - Wondering (1 Viewer)

[Samuel Des]

I'm about to refinance, already locked-in. The appraisal and title work are done. But I haven't made my Roth contribution yet. I want to contribute the max $3,000. Anyone have any idea how this might impact my loan? I've got about 60 percent equity, no other debt, and -- if I make my full contribution -- a very healthy cash account. Retirement fund are down, though....

 

[SteveA]

If you've already been approved for the loan, I don't see how contributing to a Roth IRA would have any impact whatsoever.

 

[Scott Merryfield]

Contributing to your Roth IRA should have no effect on your refinancing loan, regardless of whether you are already approved. Even though the funds may be in an IRA, they can still be considered assets towards approval if necessary.