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Its a loan against yourself

• CoffeeOnWrite 4y ago
  Banks still want to see evidence of your ability to pay it back.
  • loeg 4y ago
    401k “loans” are a misnomer. There’s no underwriting or leverage. It’s an unpenalized withdrawal with payback (as opposed to regular early withdrawals, which are penalized).
    • CoffeeOnWrite 4y ago
      As discussed upthread, 401k loans are not generally accessible to unemployed people.