Yes you can!  But there are restrictions.

The 1997 Taxpayer Relief Act, allows certain homeowners to withdraw up to $10,000 penalty free from an individual retirement account (IRA) for a down payment to purchase a principal residence. You may be required to pay income tax on the amount withdrawn so consult an accountant before making a hasty decision.  If you have a Roth IRA, however, you must have had the account for five years to make tax-free withdrawals.

There is a $10,000 lifetime limit with the stipulation that the money must be used within 120 days of the date you receive it.  The law limits the use to “first time home buyers” but defines a first time home buyer as someone who hasn’t purchased a home for the past 2 years.

Couples jointly purchasing a house must both be first time buyers to qualify.

It is recommended that you speak to an accountant and/or you financial advisor prior to using funds from your IRA.  You may also want to consult the IRS website.  IRS Website

Consult with one of our loan officers to see if you qualify for your house without needing to access the funds in your IRA.