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Considering a 401(k) Loan? Weigh Your Options Before Borrowing
Fidelity
Oct. 1, 2014
"Over the past year alone, more than 27,000 investors took loans specifically for the purchase of a home. While it's a small percentage of Fidelity's overall 401(k) loan-taking population, it is a trend the company has seen increasing over the past five years. Today's average home loan is $23,500, far higher than the average general loan value of $9,100. It represents 25 percent of an average borrower's 401(k) pre-loan balance, versus 17 percent for a general loan."
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