Borrow and repay IRA

[sandsinv]

I am buying a new home (not my first home). Can I borrow/use funds from my Traditional IRA and/or ROTH IRA and repay the monies in a certain timeframe so they are not treated as distributions?

[DoninGA]

You cannot borrow from an IRA.  You can only make a distribution from the IRA.

[VolvoGirl]

You have 60 days to put it back (plus any withholding taken out).  

[sandsinv]

Thanks for the response...Does the 60 day window apply to both a Traditional IRA AND a ROTH IRA???

Really want to use ROTH IRA funds until my house closes...

Thanks,

Randy

[Critter · Accepted solution]

Yes it applies to both HOWEVER you can only do this ONCE in a 365 day period  so make ONE distribution only.