401k/IRA for down pament

[Keith T.]

Hello everone,

Can I use My IRA/401K as an down payment, if so how much is allowed and are there penalties involved.

[Dmitriy Fomichenko]

Keith, you can convert your IRA to a self-directed IRA and use it to buy investment property. The property would be owned by the IRA (not by you) and will be for the benefit of the IRA: all of the incomes, gains and profits would be going into your account and all expenses must be paid from the IRA.