I am 26 years old, have a great credit score, prequalifiy for 50K more than I even need to purchase, but only have half my downpayment. I have found a great deal on a home and want to purchase asap. I have 2 401K's, one I have not put money into for 5 years, and is just enough to cover the other half of the downpayment of my first home. How do I cash this out without the penalties? Who do I contact to make sure this goes directly to the purchase of my home?
Before people get on me for cashing out, I have another 401K with more money from my newer job, and many stock options I invest in. I can afford to cash this little one out. Im 26, Im sure Ill be OK. I just don't have the time to save enough money up, without losing this dream house I want.