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Updated over 6 years ago on . Most recent reply

User Stats

36
Posts
14
Votes
Alexander Johnosn
  • Accountant
  • Tallahassee, FL
14
Votes |
36
Posts

All of my money for down payment is locked away in 401k

Alexander Johnosn
  • Accountant
  • Tallahassee, FL
Posted

Dilemma: I have $14k in a 401k that I want to use as Down Payment towards a house (This would be a investment property to rent out).  

Iv'e done the math, and I don't want to until until 63 to withdraw. I can get more out of this money if i invest it now. 

Iv'e been doing research on alternatives and hacks to use 401k money for a home purchase, and haven't found much. Hoping someone knows a way, or has done this somehow. 

Additional info: I already own 2 homes. First one I bought all cash for $45k that I am renting. The other one I have a mortgage on (Appraised at $95k) that I am living in. 

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