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Can I Use My 401(k) to Buy a House? Yes, Here’s How

Redfin

Before tapping into your 401(k), consider alternatives like down payment assistance programs or low-down-payment mortgage options. How to use a 401(k) loan to buy a house The first option you have is taking out a 401(k) loan for your home purchase. How does withdrawing from a 401(k) affect mortgage approval?

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#297: Ask Paula – Should I Househack or Pay Off My Student Loans?

Afford Anything

I’m torn between two options: Use the $20,000 to pay off my highest interest rate student loan (7.2 I’d apply for an FHA loan with a three percent interest rate. The first option will free up $200 of cash flow each month, which will accelerate my debt avalanche and result in less interest paid over the life of the loan.

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