Talk of The Villages Florida - View Single Post - 60 Day IRA rollover questions
Thread: 60 Day IRA rollover questions
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Old 04-03-2025, 08:02 AM
Biskopski Biskopski is offline
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Default Short term loan
Quote:
Originally Posted by TSO/ISPF View Post
Buying a house. Want to use a 60 day rollover to pay for part of the new house while waiting to sell existing home. Can I take 300K out of my IRA to cover that cost and pay it back within 60 days without incurring any taxes. Has anyone done this. The IRS examples can be confusing.
Third Federal out of Ohio is licensed to do business in Florida. Last year they were offering an adjustable loan that cost you a total of $295 for the loan fees and all closing cost for the loan. Several loan terms of fixed rate for 6mo, 1 yr, 3yr adjustable loans. So if you think your home will sell in 6mo to 1 yr you refinance your current home, use those funds to structure your new purchase. Fast process and easier accounting to when you file your next tax return. Google Third Federal of Ohio for the loan details and to speak to a loan rep. Hope the program still available for you.