01/21/2021
💭 Did you know? You can borrow from your 401(k) to finance your home purchase!
While not necessarily the first option you should turn to, it can be done.
According to Investipedia.com, it’s best to borrow from your 401(k) rather than withdrawing from it. Even though you will have to pay yourself back, taking out a loan typically won’t incur early withdrawal penalties or necessitate income tax on the amount taken out.