All Questions
8
questions
2
votes
1
answer
292
views
Borrow from 401k (and pay interest to myself) or take a loan from bank (and pay interest to the bank) to buy a car?
Should I borrow against my 401k at 6% interest rate (which I pay to myself) or take a loan through a bank at 3.5% interest rate (which is paid to the bank)? Buying a car for my kids and can't afford ...
- 21
3
votes
2
answers
1k
views
Borrow and return HSA funds in same tax year - taxes and/or penalty?
I've had an Health Savings Account for several years now, and I know I can only take out funds from it for qualified medical expenses.
I'm wondering if there will be any taxes and/or penalties if I do ...
- 133
2
votes
1
answer
217
views
Can I use my lot as security on a credit line?
I purchased an empty lot next to my house. I'm very glad to have it, but I did naively think that perhaps that I could use this lot as something like a credit card. Using it as collateral for a ...
- 121
26
votes
6
answers
7k
views
Does borrowing from my 401(k) make sense in my specific circumstance?
I know the standard answer and understand that I will be losing out on that compound interest, but I am young and only need to borrow a few thousand. here are some more details:
Need to borrow $6500 ...
- 433
1
vote
1
answer
147
views
Home Equity Line of credit features and overview
I have a very recent mortgage. I only have about 7% of equity on the home. I've made about 5 payments so far and everything is going smoothly.
Now I have a family emergency requiring me to borrow ...
- 582
1
vote
1
answer
4k
views
Is it ok to go to mortgage underwriting with two different lenders at the same time?
I am in a situation where I need to get a mortgage in a short period of time. My situation is unique and I want to make sure the mortgage gets approved. I started working with a small bank and it died ...
- 113
4
votes
2
answers
854
views
Borrowing money for a semi-urgent medical expense
I need to borrow some money to pay for dental work. This will be my first time taking on debt independently. I would like to repay my dental debt at a reasonably pace without hurting my credit score. ...
- 183
5
votes
5
answers
1k
views
Where can I borrow money for investing?
Where can I borrow money in the US if I have a good credit (730+)? I have heard community unions a good place to borrow money..but the lowest they could get is 12 percent. Can I borrow from a ...
- 67