401K account
What are the regulations concerning making loans from your 401K account ?
Answer
Re: 401K account
The laws and regulations relating to withdrawals or loans from 401k accounts are quite extensive. As a general rule the fund manager would be the best person to contact to discuss the requirements and restrictions. Prior to 59 1/2 years you may general withdraw money for a down payment on a first home. You can borrow up to 1/2 of the funds in the account (requires a payment plan to structure repayment).
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