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Can I use my 401k early for my first home purchase?

by oneiros461 from Sacramento, California. Jul 1st 2019 Reply


Greg Cowart (Cali_Loan_Guy)
#508 ranked lender in California - 9 contributions

Yes, there are ways to do that. To get specific advice we have to advise you to contact a licensed tax professional and your 401k administrator, but as a general question the answer is absolutely yes, you can. The most common way to do this is a 401k loan, which allows you to pay yourself back. This is popular because ultimately it will not leave you with less money when you retire, and there is no tax penalty like there would be if you were to just withdraw it as a hardship.

Jul 1st 2019
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