Can 401K Be Used To Purchase A Home

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Just because you can borrow from your 401(k) to purchase a home doesn’t mean you should. Here’s why: You may think you need to borrow from your 401(k) to have enough for a large down payment.

Can You Use Your 401(k) Funds for Purchasing a Second Home. – Can You Use Your 401(k) Funds for Purchasing a Second Home Without Tax Penalties? By: Mark Kennan There’s no 401(k) penalty exception for buying a second home.

Compared to a loan, a withdrawal from your 401(k) seems like a much more straightforward way to get the money you need to buy a home. The money doesn’t have to be repaid and you’re not limited in the amount you can withdraw, the way you would be with a loan.

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