Can savings come from 401k? or must be from "savings" account?[ Edited ]
01-16-2013 07:31 AM - edited 01-16-2013 07:32 AM
We are currently building a new home and were told that we would close in April. I plan on taking a loan from my 401k to cover costs right about when we close. Is it ok to do this? Another scenario is to take a loan out now from my 401k, and throw it in my savings account until we need it. Which is the best option?
Starting Score:5/22/10 590
Current Score: 6/11/13 670
Lender Mid Score: 6/11/13 670
Goal Score: 700
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