Should I Borrow Money To Pay The Down Payment on A Home

The old cliché of robbing from Peter to pay Paul certainly comes to mind in this case. Simply put, does this ever make sense? Yes, it does. You are buying a home. So long as you can afford to process the debt from borrowing the down payment, you should do it. Down payments are so large now that this is a fairly common thing. You might borrow from your parents or your retirement account. There is a lot of favorable law on the books that lets you take sizeable chunks out of your 401k and other retirement accounts to pay the down payment on a home. Remember, the government wants you to own a home because it is good for the economy and class structure.

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