If you are a first-time homebuyer, you can use your IRA for a down payment.
You can withdraw up to $10,000 from a traditional IRA. The money will be taxed.
If you have a Roth IRA, you can withdraw your contributions, plus up to $10,000 in earnings or money converted from another account.
You might be taxed, depending on when you opened the account.
You can use IRA funds to help a child, grandchild or parent who is a first-time homebuyer make a down payment.
A large withdrawal could jeopardize your retirement savings goals. Think it over carefully.