terminator_desi Posted December 16, 2021 Report Share Posted December 16, 2021 Hi friends, Anyone took loan from 401k to buy home.Any cons? Quote Link to comment Share on other sites More sharing options...
Swatkat Posted December 16, 2021 Report Share Posted December 16, 2021 Ltt Quote Link to comment Share on other sites More sharing options...
Swatkat Posted December 16, 2021 Report Share Posted December 16, 2021 Following @Shameless any idea? Quote Link to comment Share on other sites More sharing options...
mirchi_bajji Posted December 16, 2021 Report Share Posted December 16, 2021 21 minutes ago, terminator_desi said: Hi friends, Anyone took loan from 401k to buy home.Any cons? but why? 401ks are doing much better. with low rate of interest for mortgage loan , does not make sense to take it from 401k. Quote Link to comment Share on other sites More sharing options...
hyperbole Posted December 16, 2021 Report Share Posted December 16, 2021 22 minutes ago, terminator_desi said: Hi friends, Anyone took loan from 401k to buy home.Any cons? You can borrow max 50% of your balance upto 50k, regular interest rates apply. The process if straight forward, apply it through portal and they will ask you to send the home purchase agreement to approve the loan Quote Link to comment Share on other sites More sharing options...
Thokkalee Posted December 16, 2021 Report Share Posted December 16, 2021 You will get it in 2-3 days.. your employer has to approve.. upto 50K only.. They will ask for home purchase agreement.. Quote Link to comment Share on other sites More sharing options...
Spartan Posted December 16, 2021 Report Share Posted December 16, 2021 not worth. Quote Link to comment Share on other sites More sharing options...
yemdoing Posted December 16, 2021 Report Share Posted December 16, 2021 1 hour ago, terminator_desi said: Hi friends, Anyone took loan from 401k to buy home.Any cons? i showed my 401k assets to buy home, contracts with higher funds proof are picked first. but once the contract is picked we can change our downpayment % so only showed but not actually withdrawn. Quote Link to comment Share on other sites More sharing options...
Shameless Posted December 16, 2021 Report Share Posted December 16, 2021 4 hours ago, terminator_desi said: Hi friends, Anyone took loan from 401k to buy home.Any cons? 4 hours ago, Swatkat said: Following @Shameless any idea? nenu theesukoledhu baa but maa wife valla cousin theesukundhi house down payment ki...neeku emaina specific info kavali ante cheppu baa, thanani kanukkoni chebutha... Quote Link to comment Share on other sites More sharing options...
jaathiratnalu Posted December 17, 2021 Report Share Posted December 17, 2021 I took it bro.. 401K amount 2 working days amount will be deposited in your account. Need Purchase agreement only Interst will be added to your 401k account If you dont have money in hand, you can with 401k Better as some one said, Low mortgage interest and Stocks are skyrocketing from last one year.. not to use ths option.. (Ofcrs, from last one month its in downfall) Quote Link to comment Share on other sites More sharing options...
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