Updated over 14 years ago on . Most recent reply
Better to borrow from Bank or 401k?
Looking to borrow about $20k to help with the purchase of another rental property. I have the ability to refi one of my houses or I could borrow from my 401k. Not sure of all the details about the 401k loan, I do know its 7% interest and 5 years to be payed in full but other than that I haven't really researched it much. Hadn't really considered it before now so I guess what I'm wondering is what would you guys do assuming i get the same 7% from a bank.