Borrow Money from 401k to refinance

My currenty loan rate is kind of high. I am doing refinance of it. The 80%
of the appraisol value is about 20K lower than the balance of my current
loan. Is it a right choice to borrow from 401k to pay down the house loan?

My current loan rate is 6.125.
Refinance rate is 4.5
401k loan rate is 3.25
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• it is hard to address anything w/out knowing the whole picture o -美西游子- ♀ (1717 bytes) () 10/18/2010 postreply 21:17:50

• It's not a good take your retirement money and put on a house yo -T0shi- ♂ (0 bytes) () 10/18/2010 postreply 22:07:17

• (contd) which you can not afford -T0shi- ♂ (0 bytes) () 10/18/2010 postreply 22:07:59

• 回复：Borrow Money from 401k to refinance -CaLoanAgent- ♂ (347 bytes) () 10/18/2010 postreply 23:40:53

• Really bad idea. -planotx- ♂ (707 bytes) () 10/19/2010 postreply 00:00:36