A final drawback away from a beneficial 401(k) loan would be the fact it generates they more challenging to help you be considered to own a mortgage
Taking out a great 401(k) financing pushes the debt-to-earnings proportion large, that is not better when you find yourself trying to be eligible for a beneficial home loan.
Centered on Brian Sullivan, societal circumstances director for the Service regarding Homes and you may Urban Innovation (HUD), «Whenever anyone borrows money against the retirement finance, naturally, that would impact its financial obligation-to-earnings proportion. Leer Más