Refinancing - Wondering

Samuel Des

Supporting Actor
Joined
Feb 7, 2001
Messages
796
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

Supporting Actor
Joined
May 25, 2000
Messages
700
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

Senior HTF Member
Joined
Dec 16, 1998
Messages
16,071
Location
Michigan
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.
 

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