I'm going to pose this question verbatim how it was asked of me by my younger brother. I dont know his financial details but he is single, 30, and rents currently. He has a good job but I dont know his income or how much he has in his 401k.
His question:
His question:
I really dont know the answer. I've been advising he look for a house or condo as opposed to renting. Is that wise advice?"What's the down side of borrowing against your 401k as a down payment on a house? (Besides the lost interest)"