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Reply to "Explain to me why it's stupid to take $$ from a 401K for a down payment"
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[quote=Anonymous][quote=Anonymous]We dumped half or ours before 2008 and bought a new house in 2011, best decision ever, our equity is double what we took out including penalties[/quote] +1 I took out $10k to buy my house in 2003, without penalty (first time home buyer withdrawal) though I did have to pay the tax owed. My house is now worth 5 times what I paid for it and I would not have been able to buy it without. That return far exceeds what I'd have got if I'd left it where it was. for me it was absolutely the right decision.[/quote]
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