403(b) question?

If you were to take money out of your 403(b) to use for purchasing a house do you get the same penalty as if you were to just take the money out for anything?

Answer:
Depends upon the plan document. Some allow loans, some don't. You have to read the plan document and check with your trustee.

That said, 403bs have the same tax treatment as 401ks. In other words, loans for housing are fine if your plan document allows, but withdrawals will be penalized. You're likely thinking of IRA and Roth IRA accounts.
I believe so . but don't use the 403b money to pay for a home purchase..bad idea..

Ask your mortgage person if they have special mortgage for you..
if your a teacher many lenders/local government have grants or help with downpayments up to say $50k.

and if you are a teacher and your lender dont have it, ask around..many times over your lender just dont wanna deal with more work..or they push you to get a mortgage that will pay them more

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