I know for a downpayment, they normally want your own savings, or a "gift" that doesn't have to be paid back, but what if you borrow money from yourself? As in borrow from your 401K? Is that allowable?
Yep, that is generally not a problem. However, you have to be careful borrowing from your 401k. If you leave your job, get fired etc, generally you will be required to pay back the entire loan amount within 30 to 90 days. Also, don't forget that the loan payments on your 401k will add to your debt ratio when figuring how much you qualify for. -- cnswift
