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I think you've got most of the issues down. I have a question though. Borrowing from the 401k will help you put more down, but how does that reduce the total monthly payments. Is the 401k loan plus reduced mortgage rally less than the mortgage without the loan?

Also, consider that if you lose your job, the 401k loan probably becomes immediately due.

Consider all those and decide. I'd really try to wait, if it's only six months.
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