Using a 401(k) for a Home Down Payment – SmartAsset – While buying a home could be the biggest (and best!) investment you will ever make, having a healthy 401(k) is a key part of your long-term financial plan. Gutting your 401(k) now could leave you ill-prepared for retirement.Fortunately, there is a way to take advantage of the savings in your 401(k) without sacrificing your long-term plan.

First Time Home Buyer? How to Use Your 401(k) as a Down Payment – If you’ve got a 401(k), you might be surprised to learn that you can withdraw funds for a first-time home purchase. Here’s how.. Part 2 So You Want to Buy a House? A Guide for First-Time Homebuyers, Part 1 Real Estate Investing for Beginners. Helping make finance easy. Investor Junkie is your.

The Worst Way to Celebrate Your Higher 401(k) Balance – In this "What’s Up, Bro" segment from this episode of Motley Fool Answers, Alison Southwick and Robert Brokamp consider the disturbing trend of people raiding their 401(k) accounts to splurge. a.

Can I Take Money Out of My 401K to Buy a House? – If you have money in your 401(k), you might be able to take it out to buy a house. While the 401(k) is supposed to be used for your retirement, it still offers a few ways for you to take out your money early. Your best option depends on how your employer designed the plan and the amount of money you need.

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Time to buy a house? – Fidelity – Before buying a home, think about why you want to buy rather than rent. Ask yourself if you are ready to commit emotionally to a home. The biggest issue comes down to money: Are you financially ready? Falling in love with a house is easy-but committing to one for the long term may not be quite so.

The IRS has specific rules about how to avoid a penalty for using 401(k) to pay off house. It applies to first-time homeowners, but not to paying off an existing mortgage. learn more about taxes.

In this article: 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.

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The rules about tapping into retirement funds vary with the type of account. Proceed with caution before you use your retirement savings to buy a house.