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Unfortunately, there is currently no first time homebuyer tax incentive
Also, you're going to be better off financially borrowing more for the house rather than taking a distribution from a tax deferred account.
You would only be able to take $10,000 penalty free, and only if you have never used the $10,000 before.
I can withdraw from the retirement account penalty free
You will owe income tax on the entire withdrawal amount
Only $10,000 - and only if you have never used retirement funds to purchase a home
Ok so no tax break on lump sum down payment
No, there's no tax break on a lump sum down payment
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