First time homebuyer IRA withdrawl

[Kofi Quaye]

Hello,

I have money in my 401K. I am leaving my job and I am considering using 10K of my retirement towards a home purchase using the first time homebuyer provision. Can I move my money to a traditional IRA or a Roth IRA to take advantage of this provision?

Would someone be able to help me estimate the tax implications of this decision?

Would the fact that I am leaving my job, that I have been at for three years, help me more than it would hurt me in the eyes of the mortgage company?