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Financial Planning / Foolish 401(k)s


Subject:  Re: Don't want to borrow, but... Date:  10/24/2001  2:08 PM
Author:  JDOyster Number:  13479 of 26351

My DH and I find ourselves looking for a house about 6 months earlier than planned.

Personally, I regard the 401k loan option as a last resort when there is no other option. If your choice is between a 401k loan and homelessness, I'd take the 401k loan. If your choice is between a 401k loan and a somewhat bigger mortgage, I'd go for the bigger mortgage. Or find another rental and wait until you're happy with the downpayment you have saved up.

You might want to swing on over to the Buying a Home board here at the Fool...there is a lot of useful information about low-down options.

Good Luck,
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