Pros and Cons of Using Your 401K to Buy a House
Saving for a down payment on a house is often not an easy task. A down payment can be a substantial amount of money, depending on the price of the house, and a weekly or monthly savings plan can take years to add up to enough. There are ways to use your 401K to buy a house, but doing so has implications you need to consider. Here we’ll discuss the pros and cons of using your 401K to buy a house so that you can make an informed decision. Pros of Using Your 401(k) for a House PurchaseDown Payment AssistanceIf you’ve been contributing to your 401K for a while, using 401(k) funds can provide a sub...