Ask Shannah: Should I Take Money From My Retirement Account to Buy a House
Everyone's Talkin' Money
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How to Take Out $10,000 for a First Time Home Buyer
First time home buyers can withdraw up to $10,000 from their IRA penalty free. The IRS defines a first time home buyer as someone who has not had an interest in a primary home for two years prior to the date of closing on this home. If you take money out that 10% penalty actually will be waived if you're under 59 and a half.
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