401k loan or personal loan for buying house in India
Can you use your 401k money as loan or take personal losn for buying property in India ? H1b visa holder 2 yoe TC : 160K
My 401k loan is at 5.75% interest rate. Which is better than personal loan offers i received. I will go with 401k
The interest that you pay for 401k loan will be given back to you as you took loan from urself
A colleague of mine did this. They were able to borrow 50% of the money in your 401K; there is small condition that should you lose your job, you will need to repay the money the next day or something like that. The short answer is - Yes you can borrow. You pay interest towards yourself so it's not too bad.
When you change the job u have to pay it in 60 day’s or if you don’t it defaults to withdraw. If it defaults to withdraw you have to pay taxes and 10% penalty
You don't have enough of a credit history to qualify for a low interest rate loan in the US