Does money from stocks count towards reserves when buying a home?

Question

My husband and I have around 500 dollars in our savings account. He puts 10% of his paycheck into a espp through Lowes. He has around 1500 in there right now. Do the underwriters look at that as reserves also or do they just look at the money in the savings account?

Answer 1

underwriters are quirky people; give them

this morsel of data to please them.

Answer 2

Underwriters are NOT quirky people.  People who have never been one doesn't understand how decisions are made.

There are specific WRITTEN guidelines when you are an underwriter that tells you how to read every single document that is required...loans are not given on the whim of an underwriter, it's a step-by-step process.

The answer to your question is YES, you can use stocks.  Just print off a quarterly statement, get a screen shot off the internet for the last sale of stock that the UW can use to determine current market value.

Stocks are ALWAYS a legitimate source for reserves.

Answer 3

THEY WILL  USE ONLY 60% OF THE VESTED AMOUNT AS RESERVES