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Author: hisaac Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121144  
Subject: IRA and first-time homebuyer Date: 2/7/2000 10:30 AM
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Hi,

I am aware of the no penalty for withdrawing funds from an IRA for costs associated with a first home purchase. But is there a requirement for the amount of time you need to be contributing to an IRA in order for this to be allowed. For example, my husband and I (both work) would like to open IRA and max out the contribution ($2000) this year and next year then withdraw the money for part of our down payment? Is this allowed? Thanks

Heather
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