Financially SpeakingRead More>>
It may be possible to get money from a 401(K) plan to use as a down payment on a house-but it's not a good idea.
If you take the money as a distribution, you pay taxes-plus a 10 percent penalty, if you're under 59 1/2. That's a big bite. You may be able to take the money as a loan; many plans allow you to borrow half of your account balance or $50,000, whichever is less - but it's still not a good idea.