{ "media_type": "text", "post_content": "First time home buyer here—although not ideal, would it be better to take money out of my Roth or traditional 401k to help pay for the house?", "post_id": "61ae8bf42329710032fb5cb5", "reply_count": 7, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

First time home buyer here—although not ideal, would it be better to take money out of my Roth or traditional 401k to help pay for the house?

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Neither. Look at IRA distribution instead as there is a $10k first time home buyer exemption on paying penalties

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Neither. 1) Take out of IRA if you have one- there is an exemption. 2) Wait to buy 3) pay the PMI and refinance to get rid of PMI if opportunity arises.

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Neither is ideal. You’re going to hit with taxes on the 401k and Roth is post tax. Can you wait on the home purchase?

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The PMI keeps bugging me 😅 I can comfortably do 15% and am planning on it. But because of the PMI I am inclined to do 20%. But I think you’re both right—I should not take that money out if the lifetime of the PMI won’t be too long

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