1. Will a cash gift of 600.00 be an issue? The cash was a gift from my bf and he’s had it since he cashed his tax return early in year. He was saving it to buy something he really wanted but gave it to me instead. I can provide his tax return to show where he got money but he doesn’t really use a bank account. so will that be an issue? House price is 131,000 before down payment of 3.5 %and my yearly income is 36600.00
2. If I got a 401k loan and I used some of it to pay down a credit card , but after I paid the credit card I’m using the rest for down payment and closing cost , will the underwriter wonder why I just made a large credit card payment? Will they be required to address the payment to my credit card.