Using IRA for additional down payment

[Doug Hopkins]

At first glance, you're probably thinking... NONO! But let me explain. The company I work for had a pension plan. The owner sold the company and in turn we were given what had accumulated. I took the money and put it in a standard IRA. This is on TOP of my 401k and ROTH IRA. Both of which I have no intention of tapping into.

I've read that you can use up to $10,000 and an additional $10,000 for my spouse as well. So, $20,000 to add to our down payment. Minus the IRS penalty. Yes, there's the tax implications. But, beyond this - I feel like this might be a good idea just to bolster our down payment. 

Thoughts?