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I am just about ready to close on a new home. Due to project overruns, I will need an additional $20,000. I have several places that I could get additional funding from, but I am now considering borrowing the $20,000 from my 401(k) plan. I have about 30 years until retirement and my 401(k) is worth around $100,000. It seems to make a great deal of sense to borrow from the 401(k) since I pay myself back the interest. If I borrow as a home equity, personal loan, or increase my mortgage amount, I will have to pay the interest to the institution that I borrow from. This seems to be an easy decision, but am I missing something? Is this a good plan? Are their better ways? Any help will be greatly appreciated.

Wings in 5
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