Can I Convert 401k To IRA And Then Borrow

Can we convert a 410K to an IRA, then borrow from that account to build a principle residence.



401K about $200K....would need most of it.



Or any suggestions on how to structure such a plan?

[ Edited by LynLinz on Date 03/31/2010 ]

Comments(4)

  • LynLinz31st March, 2010

    no can do, only legal for investment property and then not such a good idea

  • awljsmith31st March, 2010

    Many 401(k) plans allow you to borrow up to 50% of the value of your holdings in your 401(k). You can usually use the money for any purpose. Have you looked at that yet?

  • conklbm22nd June, 2010

    Pretty sure that your real estate investing from you IRA has to be an arms length transaction --- so no investing in your own residence...
    [addsig]

  • winn887th July, 2010

    HI ,
    I like this program and I contact them for more information nobody answer my call. Any idea this program still exist with the first time buyer challenge credit.
    Thank

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