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Im still confirming a lender and may check one or two more to compare ratesfees. If they needed a purchase contract for that specific address, theyll likely need one for the new property. There may also be a time limit to apply the funds to a home purchase, which you may want to discuss with the 401k company to ensure you complete everything in time. My husband borrowed from his 401k to use as a down payment for a home purchase which we received and deposited into his checking account.
The purchase fell through because of a problem with that specific house and we had to cancelled the purchase contract. We will now be looking for another property to purchase.
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