If you have a whole life, variable life, or universal life insurance policy with a substantial cash value, you can use it for a down payment.

If you take a loan, you can repay it whenever you want, but you will have to pay interest and the policy will have a smaller death benefit.

A withdrawal means your beneficiaries will receive a smaller death benefit and you will partially surrender your policy.

If you don’t need to leave your money to your loved ones, you can fully surrender your policy to access its entire cash value.

Talk to your insurance agent or financial advisor about fees, taxes, and other consequences.