Tap Hidden Wealth to Buy Your Dream Home

Leveraging Retirement Accounts

Another often-overlooked resource is your retirement savings. While it’s crucial to preserve these funds for your future, certain accounts like a 401(k) or IRA may allow you to borrow or withdraw funds for a first-time home purchase without incurring early withdrawal penalties. For example, the IRS allows first-time homebuyers to withdraw up to $10,000 from an IRA without penalty². However, it's essential to consult a financial advisor to ensure this strategy aligns with your long-term financial goals.