Arizona Mortgage Guru Rotating Header Image

Posts Tagged ‘401(k)’

Should I Borrow From 401(k) For Down Payment

During a recent loan pre-qualification process a mortgage applicant disclosed that he wanted to put 10% down on the purchase using money from his 401(k). We quickly pointed out that this may not be a good idea - considering the impact of taxes, withdrawal penalties and loss of future earnings. Additionally, since this borrower [...]