can i use money from my annuity to buy a house ? will the lender accept it?
613805
I don't see any problems with that.  Worst case scenario, it will have to sit in your checking or savings account for 2 months before you can use it.  This is called seasoning.  Some lenders require it, some don't.
1012787
You can probably do it, but you'll have to shop around.  Most banks don't offer mortgages on unimproved land, but there's got to be a few that do - but the interest rates may not be so good!
599015
YES they will accept it.  They will ask you to submit your monthly take home pay, and a list of all they stuff you pay.  Provied it to them so that they can figure out how best to help you.
1065748
Basically you add a certain amount to the mortgage that you want to use for the closing costs, say $5,000.  This $5,000 is then given to the seller by the bank which they then give to you to use for the closing costs.  You are basically financing this additional amount with the bank.  There are limits on how much you can do this for and the bank must allow it but most do.  If you make an offer of $205,000 with $5,000 of sellers assistance your offer is really $200,000 for the house.  I do not believe this money can be used for the downpayment because you have to have the downpayment with you at the settlement before the seller can give you the seller's assistance amount back.
990102
Sure you can, as a foreigner. I can help. If you are working here and not having a SSN, you should have some tax id, do you? I work with a big direct lender/mortgage broker doing business in 48 states, and because the huge volumn of business we do, we get better rate than smaller brokers. We have over 200 loan programs to meet the needs of different situations, from good FICO score and good income and down payment, to poor FICO score and NO income (called "stated income") and NO down payment, so I will be able to find the program which best fits your needs. Contact me at xjuy@yahoo.com or 408-476-0455 and I can help you. Jessica
789072
Yes, as long as you have enough money in your account to cover the purchase.
53675
the best place to start would be to start with the company who holds the annuity. They would be able to give you the information you seek.
1069569
Sure, especially if you have no prepayment penalty on your mortgage.  Say that someone passes away and you get a decent sized inheritance, you can certainly use that money to pay off the mortgage.  Or, if you are trying to do it oin your own, if you paid in a lot of extra money every month, you could pay it off in 5 years.
466629
It's still your money even if it's in a retirement account, and you can pull it out as a loan (but you need to replace it or be penalized) or as a distribution, so yes you can use it for your downpayment.  It's an eligile source of liquid assets, from a lending perspective.\n\nYour retirement accounts are basically savings or investment accounts that give you a (very) slight reduction on your taxable income.  If you're buying a house, it's much more important than knocking a few thousand dollars off of your taxable income, so I wouldn't put it there, I'd just put in in a regular investment account.  Minimizing your tax liability is wise, but it's not necessarily the highest priority all of the time.\n\nYou can also change your IRA contributions amount anytime you want, or make a lump sum contribution prior to the deadline from your other investment or savings accounts in the total amount it would have been if you had contributed it paycheck by paycheck.  So you can have it, if you need it, and still have the option of taking advantage of the tax benefits.
846967
of course a lender will finance the house. As long as the house is worth at least what they are asking, you shouldn't have any problems financing the house.
1061811
An annuity is kind of like a mortgage in reverse.\n\nWith a mortgage, you take a big chunk of money from the bank and then you make a monthly payment for 15 to 30 years until the balance is paid off. Along the way you need to pay interest too.\n\nAn annuity is in the opposite directy. You give the financial institution a large sum of money, and they give you a monthly payment for the rest of your life.\n\nThere are a few differences. A mortgage has a definite end. The traditional annuity does not. Payment last as long as you do. If you live a long time, you've made a great deal. If you die early, the financial institution has made a great deal.\n\nYou don't have to buy the annuity in one large sum at retirement either. You can make monthly payments over your working career, and then "annuitize" the sum when you retire. This is what a company usually does with your pension.\n\nHow can companies take the risk of paying your for the rest of your life? We'll, they issue a lot of annuities and they consult acturial tables, which list on average how long people live. By spreading the risk over many policies, and making sure the terms work in their favor, given the acturial information, they will make money on average. It's like a casino, where the odds are always in the house's favor. They may lose a few rounds, but when the money is counted, they will always come out ahead.
46624
I assume it's a CitiBank mortgage. If so, go to https://web.da-us.citibank.com/cgi-bin/citifi/portal/l/l.do \n\nThats the link to My Citi you should be able to do what you want there.
61950
Yes, of course.  Just ask your administrater for a witdrawal.  You can also take a loan against your 401k.
860571
Yes if you pay monthly rent or mortgage payment then that is the amount you would use.
615701
it all depends on the landlord/management company.  Some are more forgiving, others are very strict requiring certain credit scores(or an additinal deposit).  But if you're selling your house, you should be able to use the money to take care of your financial issues.
103399
I wouldn't do it.  You are risking the equity that you have built in your house.  Also, you would need to generate a high rate of return just to pay for the interest on that loan.  High Return = High Risk!
1123171
According to Section 408 of the IRC, you can purchase land, commercial property, condominiums, residential property, trust deeds, or real estate contracts with funds held in many common forms of IRAs.\n\nThe trick is finding an IRA custodian who handles real estate.  But it can be done.  Once you find such a custodian, you would simply roll your 401K into an account.