Hello trying to get some advice on whether or not to cash out my wife's 401k to help put money down on an approximate 150k dollar 203k home refinance loan at 4.5 percent to pay for a dormer. Quick background, We are both 35 years old, my wife is a stay at home mom and hasn't worked in the past 6 years. My gross salary is approximately 140k a year. My wife currently has a little more than 22k in her 401k. After the 20 percent fee we will get 18k prior to what we will owe at tax time. We have about another 10k to also put down. So we can cut the loan amount down to around 120k. My question is it worth paying the fees to make a larger down payment on the loan over the 30 year period? I feel like in the long run it would be worth it But would like to hear your thoughts. Thanks
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