Using an Individual Retirement Account (IRA) to purchase a home is primarily enabled by the , which allows you to withdraw up to $10,000 penalty-free before age 59½. The First-Time Homebuyer Exception
If both spouses qualify as first-time homebuyers and have their own IRAs, they can each withdraw $10,000, for a combined total of $20,000 . using ira to buy home
While the name implies a one-time use, the IRS defines a "first-time homebuyer" as anyone who has not owned a primary residence at any point during the ending on the date of the new home acquisition. Using an Individual Retirement Account (IRA) to purchase