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Reply to "401(k) for down payment?"
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[quote=Anonymous][quote=Anonymous]I did it , best decision ever and my home appreciated alot more than I withdrew. Make sure you calculate the penalty and our accountant was able to maximize itdeductions to offset it.[/quote] +1. We went FHA and bought well under what we were approved for, so it was a small loan anyway. Will likely make about $40K or more after closing costs when we sell, which will enable us to buy the home we really want AND pay back the remainder of the 401K loan. My employer contributes EXTREMELY generously, so I'm still ahead anyway. I think it depends on your situation.[/quote]
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