401(k) Loans: What You Should Know

When Ivy Simon, a 39-year-old from Chapel Hill, N.C., wanted to buy her first house in 2006, she borrowed $50,000 from her 401(k) for a down payment.

She paid back her loan easily, within two years. “I’m glad I did it, and I would do it again,” says Simon, who is now the owner of Palette and Parlor, a home design and decor business in Chapel Hill, NC. “I’d rather owe myself the money than a bank or someone else.”

Read morehttp://www.learnvest.com/knowledge-center/borrow-from-401k/

Connor Zins

Connor Zins, Loan Officer (406)273-2400


Following this link means you will be leaving the Family of Banks website and going to a third-party website. Please be advised of the following:

  • This external website provides additional information that is consistent with the intended purpose of the Family of Banks Web site; however, the external website is subject to change beyond the Family of Banks’ control.
  • The Family of Banks cannot ensure the accuracy of third-party websites.
  • Linking to a third-party site does not constitute an endorsement by the Family of Banks or any of its employees regarding the information and products presented on the third-party site.
  • You will be subject to the destination site’s privacy policy when you follow the link