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Reply to "401(k) for down payment?"
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[quote=Anonymous]I don't advise you doing that. If you get laid off/terminated/quit, you need to pay it back within 90 days or it's an early withdrawal. I think you hit the nail on the head - You don't have enough savings for a down payment. That likely is a sign you aren't ready to buy. Eliminate your debts, have an emergency fund, and save for your down payment, otherwise you're taking on a lot more risk (ie. people in 2008) and eventually Murphy's law will hit.[/quote]
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