Dilemma closing on 2 properties one has hiccup

[Chris Sukala]

So we are closing on a SFR and a duplex. I am getting loan for SFR and 2 different banks. I am doing a rehab and hers is conventional and fully occupied duplex. The local bank she is using has been good and that's why we stay there, of course other then this situation. My bank is also local and the only one that does the rehab loan. I borrowed 23k from my 401k and we have 20k in a joint savings. So I am clear to close Monday. My wife's is First of Oct. they are now saying she can't do loan on her own because the money from my 401k would be considered a gift. Well technically I am using part of savings. So how can the distinguish whose using what? Otherwise I would have to be on loan or she can use a 5 year arm. Which is better? If we did the arm how long before she can refi that for a 15 or 30? Of course didn't check email until after 5pm, which they probably left and I went to work. I would think there should be a problem.