Using 401k for a down payment

[Matthew Greco]

Hey BP

It seem like an eternity ago I did this for my first primary home.

After a break up with the GF, the plans to buy multi family have come to a halt and I need to move out.

I'm looking mostly at co-ops and condos that need 20% down.

I'm going to borrow 50% from my 401k. The 401k people wont cut a check till we have a signed contract. Now I 've done this once before and can't remember how it worked out.

My question is, can or how can I sign a contract without handing over the full down payment? This is obviously a common thing, I don't don't remember the answer. Thx in advance

Matt

[Frankie Woods]

Copy.  Good to know, thanks for sharing.