loans on a 401k and retirement account

Private Client Services, has now introduced a concept to borrow on your 401k without a penalty.

The Private Client Services group here at Harbour Equity Partners has recently broke ground on a new financing product to help that allows borrowers to utilize a 401k account to draw a loan.

yes,, that is what you heard, and no one out there is offering that.
We have discovered the niche product when we where encountering the mortgage financing for doctors that tend to not have any cash reserves to show for post-closing liquidity.

So now with the 401k loan, we can get to 100 LTV using a loan against the retirement, or simply using that 401k for the PCL to close on a mortgage.

Borrowers typically believe in their retirement vesting, and and at times it has hindered the borrower’s ability to close on a loan, as the 401k accounts are not deemed 100% liquid and often do not meet the standard PCL ( Post Closing Liquidity ) ratios, nor is it deemed investment grade collateral that we can lend against. Now, we have met that challenge with a solution. For Clients that do not hit the PCL ratios we can offer the solution to loan against the 401k account without penalty. This loan can be used for any purpose and the loan can be up to as much as 100% of the 401k account.

For more information on this product, please contact us at: [email protected]

Kathleen Smith

Harbour Equity Partners
Private Client Services, LLC

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