whonew wrote:
AZKC wrote:
whonew wrote:
AZKC wrote:  
Help purchasing a home. Never had it.

Are you sure about that, AZKC?

It sounds like you work for a very decent company and I'd be surprised if they didn't allow you to take a very low interest loan against your retirement plan for a down payment on a home.
Yes, I work in HR Benefits and I have a pretty good idea what is offered.

No loans or lump sum payments from our defined benefit plan. Of course one could borrow from their 401(k), but that is true of all 401(k) plans.


Cool, AZKC. That is what we did but the interest rate was a very good one so I did consider that to be "assistance."

Thanks for the reply.

Of course the down side of borrowing from your 401(k) at a low interested rate is your retirement funds only make what you are paying in interest. 

It is probably better to pay whatever the going mortgage rate is to your 401(k) loan, if you can afford it. 


The only reason some people get lost in thought is because it's unfamiliar territory. - Paul Fix