Buying a home is often the biggest purchase you’ll ever make. If you’ve been diligently contributing to your , that balance might look like a tempting source for a down payment. But before you tap into your future to pay for your present, it’s essential to understand exactly how it works. 1. The Two Main Ways to Access Your Funds
Many state and local programs offer grants or low-interest second mortgages for first-time buyers. The Bottom Line taking from 401k to buy a house
This is the big one. When you take money out, you miss out on compound growth . Even a few years out of the market can result in tens of thousands of dollars lost by the time you retire. Buying a home is often the biggest purchase