Cash out Pension for Down Payment on Home

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09-09-2015, 10:34 AM

bjkrukowski bjkrukowski is offline

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Join Date: Sep 2015

Posts: 2

Cash out Pension for Down Payment on Home

I am anticipating changing jobs in the coming days. I currently have a pension valued at about 30K. I would like to purchase a new home and use my pension money for a down payment. Will there be any consequences (tax and penalties)?
The new home will be my primary residency but I do currently own a 2-family.
I am assuming that mortgage rates will start to climb once the FED raises interest rates.

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