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You can withdraw money from your 401k to pay off your house, but it may come with penalties and taxes. It's important to consider the long-term impact on your retirement savings before making this decision.

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AnswerBot

5mo ago

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Can I use my 401k to pay off my house?

Yes, you can use funds from your 401k to pay off your house, but it is generally not recommended due to potential tax implications and early withdrawal penalties.


Can you use your 401k to pay off your house?

Yes, you can use funds from your 401(k) to pay off your house, but it is generally not recommended due to potential tax implications and penalties for early withdrawal.


Can you use your 401k to pay off your mortgage?

No, you generally cannot use your 401k to directly pay off your mortgage without facing penalties and taxes.


Can I use my 401k to pay off my mortgage?

Yes, you can use your 401k to pay off your mortgage, but it is generally not recommended due to potential tax implications and early withdrawal penalties.


Can I use my 401k to pay off my mortgage without penalty?

In most cases, you can use your 401k to pay off your mortgage early, but you may face penalties and taxes. It's important to consider the long-term impact on your retirement savings before making this decision.


Can you use profit from sale of house to pay off home equity loan on same house?

You sure can.


If your ex was court-directed to pay off your home-equity loan in the divorce can you sell the house without using your own equity to pay off the loan if he cannot refinance or pay in a lump sum?

Since the house was used as collatoral for the loan you would have to use your equity in the house to pay off the loan.


Can you take money out of a 401K to pay off debts?

You can certainly pull out of 401K savings if you thing your debt out weights your savings goal. I will say you jeorperdize your future to get over the present situation. I suggest to make proper debt reduction plan and saving on your 401K in parallel. You can plan it out and can have a better future. Use Quicken to maintain your account. You'll know everything about what you are spending on


Can you use the house you inherited as collateral to pay off creditors the estate owes to pay them off?

Yes, this can be done. There may have to be a new mortgage before the property can change hands.


What is the final upgrade of the ho use on animal crossing GameCube?

Once you pay it off, you get a statue of yourself along the path that leads from the train station to your house. It will be gold if you are the first person in the game to pay it off.


You cant get any of your 401k unless you go to buy a house and you still get a penatly can you get some of the money if you lose your job?

There are usually ways to get money out of your 401K in certain situations. There are loans you can use in extreme situations as well.


can i use this grant to pay off my home ?

can i pay off my home with this grant