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Updated about 1 year ago on . Most recent reply

Joshua Bautista's profile image
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Joshua Bautista
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  • from San Diego
  • Member since Jul 2, 2023
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Joshua Bautista's profile image
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Joshua Bautista
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  • from San Diego
  • Member since Jul 2, 2023
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Joshua Bautista
  • Specialist
  • San Diego
19
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Personal Finance

401k Down payment

Joshua Bautista
  • Specialist
  • San Diego
Posted

Have a friend who is looking to use his 401k as a down payment in San Diego.  I saw that you can only bring out 50k max.  Is that true? What are the pros and cons

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Joe Homs
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  • Mission Viejo, CA
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Joe Homs
  • Flipper
  • Mission Viejo, CA
Replied

@Joshua Bautista as a down payment for an investment property or principal residence (which would be a prohibited transaction.)  I would check with @Dmitriy Fomichenko to get the full details.

Good Investing...

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