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URL:  http://boards.fool.com/greetings-toddra-and-welcome-you-asked-11599831.aspx

Subject:  Re: IRA's and First Time Home Buyer Date:  12/2/1999  3:25 PM
Author:  TMFPixy Number:  15845 of 78166

Greetings, ToddRA, and welcome. You asked:

<<I understand that $10,000 can be withdrawn from an IRA without paying a penalty for first time home purchases. Is this available for both traditional IRA's and Roth IRA's?>>

Yes, it is; however, in a Roth IRA it doesn't begin until your withdrawal exceeds your original contributions. Contributions may be taken at any time for any reason free of tax and penalty. For earnings, you must wait until age 59 1/2 (unless you meet one of the authorized exceptions for early IRA withdrawal) plus the account must have been open for five years. However, the first-time home purchase is one of the exceptions. If the Roth IRA has been open for five years, the