BootsOnTarmac
Well-Known Member
You can buy anything you want with a 401k loan. You decide the amount you want and how many years to pay it off. A service fee and a loan percentage are what you will pay. Weekly deductions from your paycheck will continue until you pay it off. You can only borrow the amount that is vested. Vanguard will walk you through it. I agree, if at all possible, never borrow from your 401k. Many use this option to pay down high interest credit cards, etc. The money will not be available for future market growth until the loan is paid off.