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Coronavirus Government Assistance Programs

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Jeremy Anan
Pro Member
  • Rental Property Investor
  • Maryland
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85
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Here is how to increase your purchase power with COVID 401K Loan

Jeremy Anan
Pro Member
  • Rental Property Investor
  • Maryland
Posted Apr 24 2020, 17:34

Typically, you can take a loan of up to $50,000 or 50% of your 401K vested account, whichever is higher. However, the coronavirus relief bill — the CARES Act — temporarily doubled that amount to $100,000. The term of the loan is usually five years.

Investors with W2 job, are you taking advantage of this to increase your capital/purchase power?