Roth IRA, Metlife life insurance, 410B

[stacynyc]

I and my fiance are looking for our first house. He has some money saved in roth IRA, metlife life insurance and 410B fund. If he withdraws the money from these accounts, will he get penalized? Will he have to pay taxes upon withdrawl if he invests all the money into his first house?
Thank you

 

[Michael Wechsler]

I and my fiance are looking for our first house. He has some money saved in roth IRA, metlife life insurance and 410B fund. If he withdraws the money from these accounts, will he get penalized? Will he have to pay taxes upon withdrawl if he invests all the money into his first house?
Thank you

My understanding (and I'm not a specialist in this area) is that if you do early withdrawal you are penalized. You may want to discuss this with your mortgage broker who may be familiar with your situation and can direct you. Good luck with your new home!