Explore the rules, benefits, and implications of using IRA funds for home purchases, including Traditional vs. Roth IRAs and first-time homebuyer exceptions.

Normally, IRA withdrawals taken before age 59 1/2 are subject to a 10% early withdrawal penalty. But there's an exception for home buyers. If you're purchasing a first-time home, you can remove up ...

Good to know: If you're opening an IRA account for the first time, the process typically takes just 15 minutes and requires basic information, such as your name and bank account number.

Qualified Roth IRA withdrawals are tax-free, as are up to $10,000 in withdrawals for a first-time home purchase at any age. In both cases, the Roth IRA must have been open and funded for at least ...