Author Topic: 457 as House Down Payment?  (Read 244 times)

put me in coach

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457 as House Down Payment?
« on: July 18, 2022, 03:56:44 PM »
Hello,

We have never owned a home. I am just beginning to research the possibilities of buying. We rent in a HCOL area, in our late-30s with 1 kid.

We have about $210,000 in retirement accounts, and we make about $200,000/year gross combined. We max out our roths and 401k/457. Given the stability of our jobs and situation, we only have about $7.5k in more quickly accessible savings.

I will likely transition jobs which means I can take out ("elect a refund of my contributions") from the $45k in my 457 as a direct deposit or a rollover. Is this advisable to help us pay for the house? Should i roll it over to another account first?

Thanks for your help! Let me know if you need more info.