Let your retirement fund your home purchase

If you have a good job and good steady income and a qualifying retirement program, you may be able to buy a home. The rules differ between a Roth IRA, a 401(k) or a traditional IRA

With a 401(k) account, you can borrow up to half of the balance or $50K, whichever is less, for any reason at any age without penalty or taxes if your employer plan allows it. Your 401(k) may have specific rules for taking a loan with a requirement for paying interest. Good thing is the interest goes back into your account. So it boosts your 401(k) a bit. Talk with your company’s human resources department to get the details. CONTINUE READING-->