If you're a homeowner, you're probably thrilled that home prices in many parts of the country are at all-time highs.

When your home value increases,

so does your equity and your net worth.

But what if you need to buy a home?

Not only are prices sky high,

but mortgage interest rates and home insurance premiums can put

home ownership out of reach for many Americans. If you have existing home equity, you can

use it to purchase your next home.

However, suppose you have little or no equity, or you're not a homeowner.

In that case, you must have plenty of savings to cover various closing costs including a down payment, mortgage underwriting fees,

appraisal, survey, title insurance, transfer fees, recording fees, and more and more and more.

If cash is tight, you may wonder if you can use your retirement

account to cover some of the closing costs. This podcast will review the rules for

using your workplace retirement plan or individual retirement account IRA to buy a home.

Hey friends, welcome back I'm Laura Adams, an award winning author, Money Speaker, founder of the

Money Stag newsletter and host of the Money Girl

podcast with 43 million downloads. I also work as an on-camera financial

spokesperson and partner with select brands for PR and content marketing.

As always, you can learn more and email me at Laura D Adams.com.

And if you have a money question or a comment,

I would love to hear it. Please leave it on our voicemail line at

302 3640308 I'd love to answer your question on a future show.

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