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Using 401k to fund first time home purchase

Please consider allowing a first time homebuyer to use part of his/her 401k to purchase a primary first home without incurring penalties. This can be as simple as allowing only FHA loans, with income limits and keeping mortgage brokers from adding excess penalties and fees and stopping the owner from getting HELOC or a second mortgage unless the house is payed off or is required to fix a major problem with the home (Roof, ...more »

Submitted by (@hgwall)


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