Can spouses each borrow from 401(K) for house downpayment?

Sure.... You can both take money from your 401k to buy a home. Just need to document the paper trail. Prove you had a 401k with the money in it, and prove the withdrawal.

Yes, both can borrower from a 401 (k). Just know that you will need to keep an excellent paper trail showing proof of your beginning balance, proof of the deposit and then proof of your updated balance in your 401 (k) and bank account after it has cleared.

you need to check your 401k , some are age restricted ,, not for age of yourself, but the penalty if you are under a certain age... i might have another way for you to get fundings without using your 401k .. email me at yourloanpartnerforlife@live.com linda

Yes, you can borrower from your 401(k) and depending on the specific loan program the payment may or may not be included in your debt-to-income ratio calculation.

Yes, however we will use the repayment on the 401(K) loan as part of the debt ratio...

yes you can!

Yes, but don't confuse borrowing from withdrawal.. if you withdraw funds from your 401k, and your not 59 1/2, you will be subject to taxes and a 10% penalty for early withdrawal.. Borrowing against a 401K, some lenders will require you include the payments into your debt ratios for qualifying purposes.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com