Posted on: 22nd Aug, 2012 01:34 am
Can I use my IRA retirement funds for a down payment on a house?
Hi Morrin,
It is better to avoid using your retirement savings for mortgage down payment.
It is better to avoid using your retirement savings for mortgage down payment.
Hello Morrin,
What you get whenever you pick a Roth IRA retirement prepare is, every time you make a contribution, you pay all your taxes upfront appropriate now, and enjoy the rest of your retirement, tax-free.
:idea:
What you get whenever you pick a Roth IRA retirement prepare is, every time you make a contribution, you pay all your taxes upfront appropriate now, and enjoy the rest of your retirement, tax-free.
:idea:
It would be a bad idea to use your retirement funds for making down payment. Try to arrange the down payment amount from other sources. Otherwise, you can defer your home purchase.