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I am considering using the one time withdrawal for our first home. A couple of questions:

- Its a rollover IRA - Is this okay?

Yes. A rollover, or "conduit," IRA is a subset of traditional IRAs.

- Does down payment count in the calculation. Ie: withdraw 10k, use 5k for acquisition, fees etc. and the remainder as a payment on the mortgage upfront.

If you rephrase that you're fine. What you're doing is making a larger down payment and reducing the initial amount of the mortgage, not making a mortgage payment.

Phil Marti
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