<prompt> Human: Hi all, A little background: I have been at my current job for 6 years now and have contributed to the 401k plan. I am close to 90k in that portfolio. Heres my situation: I plan to buy a home in the next 1-2 years time frame and I want to consider using my 401k to help with that down payment I will be a first time home buyer based on my current area and range i want to use 20k for down-payment and any other fees associated with home buying and even renovating the question is should i look at: 1 keeping the 401k in my current plan and take a loan against myself, 2 should i move it to an IRA where i can take at least 10k out with no penalties or 3 transfer it to the new 401k plan at my new job and take a loan against my self as in case 1 Any suggestions tips EDIT: Thanks for everyones suggestions clearly based off the feedback i need to evaluate other options rather than dipping into the 401k.  <response>: You should not use retirement money for anything except retirement. Even on loan.Read this about deciding to rollover to IRA or new 401k: 