Can you use your 401 k to pay down your mortgage if you refinance without receiving a penalty?

Question by Deborah V: Can you use your 401 k to pay down your mortgage if you refinance without receiving a penalty?
Can you borrow your 401 k money to pay down your mortgage if you are planning to refinance your mortgage without being penalized? I know you can borrow from your 401 k if you are a first time buyer but I don’t know about refinancing. Any advice would be greatly appreciated.

Best answer:

Answer by Mom
No since you are NOT considered a First Time Home buyer

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