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Updated about 6 years ago on . Most recent reply

Rolling 401k into Solo 401k to take a loan
I'm preparing to buy my first property, a Bay Area condo. I have ~$50k in a 401k with Voya from a previous employer. I'd like to access as much of that as possible.
I understand that if $50k was enough to buy a property here I could hold the house in a (self directed) solo-401k.
Is my best option to roll the 401k into a solo-401k that will let me take a 401k loan for 50% of the 401k value ($25k)?
I believe 401k loan repayments are *not* included in the underwriting process as they are not technically debt. Is this correct?
If anyone can recommend a solo-401k provider that will allow me to do this, I would appreciate it. If it is against the rules to publicly plug financial services like that, please message me instead.