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Like "dsteppel" warned in his reply...be careful here. I work for a large company and my 401(k)/savings plan limits plan loan amounts to 1/2 the value of your plan up to a maximum of $50,000. The remaining 1/2 of your plan serves as "security" on your loan in the event you fail to make payments or if the becomes "due in full". If you terminate employment for any reason, a 401(k) loan immediately becomes due and if you are unable to pay-in-full, the remaining amount in your plan becomes payment to satisfy the loan. Also, should this occur, the IRS will consider this a "distribution" and you will be required to pay any applicable income tax! Only borrow against a 401(k) plan after you have exhausted ALL other resources!
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