Ready to unlock the door to your first home? Buying a home is an exciting step towards financial growth. There are flexible down payment options available. Doing your research and consulting with a licensed loan officer are important steps to take as you begin your path toward homeownership.
Lenders accept this but require documentation proving it's a gift, not a loan.
Retirement Savings
401(k): Withdrawals allowed but taxed + 10% penalty. Loans may be available.
Traditional IRA: Up to $10,000 can be withdrawn for a first home (taxed, no penalty).
Roth IRA: Tax-free withdrawals for first home after 5 years.
It's always a good idea to consult with a tax or accounting professional before moving forward. Visit our step-by-step guide to homeownership and get started on your journey.
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