using "defered compensation" for home purchase..?

[Roccobro]

I personally love the idea of paying interest on "borrowing" my own money.

I'm waiting on the guy who did pull money out and regrets it. But this *ahem* tool of using your retirement savings is relatively new.

Justin

[Bob Ragen]

Don't touch your 457. I know nothing about Long Beach area but if you look into an area considered rural There are no down very low intereset home lones through the USDA. My son and his fiance bougth the first home through the USDA program. Realtors may not be aware of these programs but a good Lender should be able to help you with the info.

[baz152]

Keep in mind that any interest that you would have to pay by borrowing out of your deferred comp goes back to yourself..... thats better than owing any money to a bank or family member. Not only are you going to get the money you need for the house but you are also going to boost your deferred comp at the same time. You are young and you have a long career ahead of you, you are not going to feel any negative impact in your retirement package in the long run.

[G17GUY]

Not only are you going to get the money you need for the house but you are also going to boost your deferred comp at the same time. .

You are only paying the amout of interest it would have made had you left it in the account. You are not boosting anything.

[cope113]

Also check out the "good neighbor nextdoor" program through HUD.