Yes, if you meet these following conditions as a first-time home buyer:
- The account has been open for five years.
- You withdraw $10,000 or less to purchase a home.
- The funds are used directly toward a home acquisition (down payment, closing costs, etc.)
If the above criteria are met, you can withdraw your entire account up to $10,000. The $10,000 is a lifetime limit, and if the rules are met, the withdrawal will count as a qualified distribution and there will be no income tax owed or early withdrawal fees.
