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The Skinny On Borrowing Money From Your 401(k). – 28-03-2014 · Opinions expressed by Forbes Contributors are their own.. the interest payments aren’t tax-deductible as they would be with something like a home equity loan. That’s your.
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Using a 401(k) for a Home Down Payment – SmartAsset – Borrowing from Yourself for a Down Payment. Instead of making a straight withdrawal out of your 401(k), you could instead take out a loan from it. This is a great helpful way to supplement your down payment. While you can borrow against your 401(k), note that you will be paying back yourself for the loan’s principal and interest, not to a bank.
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What Type of Retirement Accounts Can You Borrow From? – It’s a good idea to investigate all the alternatives for borrowing before taking a 401(k) loan, including a bank or credit union loan, home equity line of credit or even a personal loan from a friend.
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