Archive for December 2009
What are the pro’s and con’s of using 401-k for down payment on a home?
milltown asked:
The money i’m spending on rent can go towards the purchase of my very own home. I like the idea of buying a home, paying it off in 15 or 20 yrs and have no mortgage while still working or after i’m retired. I want to use some of my 401-k now as a down payment but what are the pro’s and con’s to using my retirment money that way?
The money i’m spending on rent can go towards the purchase of my very own home. I like the idea of buying a home, paying it off in 15 or 20 yrs and have no mortgage while still working or after i’m retired. I want to use some of my 401-k now as a down payment but what are the pro’s and con’s to using my retirment money that way?