Verifying Borrowed Money

Borrowed Funds
If you are borrowing money from a person the lender will want to know especially if you are using it for down payment funds or closing costs.

If you have a 401k plan or an IRA and have been consistently saving money, borrowing from your own accounts may be permitted. Since it appears the govt. keeps raising the age to retire and if you are just beginning your career you'll have plenty of time to replenish the account. However, not all retirement accounts are identical as some have fees and/or penalties for early withdrawals so confirm those first before acting.

People in your family are great candidates to borrow from as well since rates and terms will be poentially more beneficial to you.