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Updated over 7 years ago on . Most recent reply

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2
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Jamie Haas
  • Kennesaw, GA
0
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401k loan for primary residence duplex

Jamie Haas
  • Kennesaw, GA
Posted

Found a potential property which is a duplex for 40k. But seller is needing $$ fast (purchased an apartment building that needs work) and 401k loan is the only way I can come up with funds that fast. 

I like the idea of the 10 year term on 401k loan for a primary residence, my question is, has anyone done this and what type of documentation would the 401k administrator require to prove it's for a primary?

I would pay off in march with a long term compensation that comes due. 

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