Dec 3

I have $10,000 in a traditional IRA and I want to buy my first house this summer. The $10,000 would help me with pulling together enough money for a down payment. I would like to use it for this, but I don’t want to have to pay a penalty for an early withdrawal. I am 32 years old. Any advice?

2 comments so far...

  • Jen Said on December 3rd, 2009 at 3:46 am:
  • Roger C Said on December 3rd, 2009 at 3:57 am:

    Yes. Also, if married your wife could do the same. Ordinary income taxes do apply. Some restrictions apply (length you can hold $s before closing for example), so make sure you are careful.

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